A bill to deny percentage depletion in the case of oil which is exported from or imported into the United States, and to provide that intangible drilling and development deductions shall be recaptured where oil is so exported or imported.

referredUnited States· United States Congress· EN

Introduced

7 February 1973

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Denies, under the Internal Revenue Code of 1954, the percentage depletion deduction in the case of oil which is exported from or imported into the United States. Provides that intangible drilling and development deductions shall be recaptured where oil is so exported or imported.

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Documents

1 official file

Introduced in House
summary · EN · 7 February 1973
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/93rd-congress/house-bill/3956
Open data entity: https://api.congress.gov/v3/bill/93/hr/3956