A bill to amend the Internal Revenue Code of 1954 to allow the credit for production of natural gas from certain nonconventional sources only if such natural gas was sold at a lawful price without regard to section 107 and subtitle B of title I of the Natural Gas Policy Act of 1978.

Summary

Amends the Internal Revenue Code to specify that the income tax credit for the production of natural gas from nonconventional sources shall apply to natural gas sold during the taxable year only if such gas is sold at a lawful price which is determined without regard to ceiling prices under the Natural Gas Policy Act of 1978.

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

Timeline

1. 8 June 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 8 June 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 8 June 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 16 July 1981

   Committee

   For Further Action See H.R.4178.

   Source: Committee

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 · 8 June 1981

  Open at official source

Sponsors

• Rep. Fields, Jack [R-TX-8] · R · Sponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend the Internal Revenue Code of 1954 to allow the credit for production of natural gas from certain nonconventional sources only if such natural gas was sold at a lawful price without regard to section 107 and subtitle B of title I of the Natural Gas Policy Act of 1978.