A bill to amend the Internal Revenue Code of 1954 to impose a windfall profits tax on natural gas which is sold in interstate commerce and which is exempt from price regulation under emergency natural gas legislation.

Summary

Amends the Internal Revenue Code to impose a graduated excise tax on the profits on natural gas sales attributable to lifting the price controls on interstate sales under the Emergency Natural Gas Act. Imposes the tax on the beneficial owners of the well head property.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 1 February 1977

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 1 February 1977

   Introduced

   Introduced in House

   Source: IntroReferral

3. 1 February 1977

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 1 February 1977

  Open at official source

Sponsors

• Rep. Rangel, Charles B. [D-NY-19] · D · Sponsor
• · hswm00 · Standing

Related records

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