A bill to amend the Internal Revenue Code of 1954 to provide that the credit for producing natural gas from a nonconventional source shall apply only to natural gas sold at a lawful price which is neither an uncontrolled price nor an incentive price.

referredUnited States· United States Congress· EN

Introduced

29 July 1981

Last action

—

Status

Referred to House Committee on Ways and Means.

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.

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Documents

1 official file

Introduced in House
summary · EN · 29 July 1981
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/house-bill/4322
Open data entity: https://api.congress.gov/v3/bill/97/hr/4322