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United States · Bill · HR

H.R. 4460 (97th)

A bill to repeal those provisions of the Economic Recovery Tax Act of 1981 which extended the credit against the windfall profit tax on domestic crude oil for royalty owners, which reduced the rate of such tax on newly discovered oil, and which exempted from such tax independent producer stripper well oil.

referredUnited States· United States Congress· EN

Introduced

10 September 1981

Last action

10 September 1981 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Peyser, Peter A. [D-NY-23], Rep. Nelligan, James L. [R-PA-11], Sen. Jeffords, James M. [I-VT], Rep. Heckler, Margaret M. [R-MA-10], Rep. Oberstar, James L. [D-MN-8], Rep. Murphy, Austin J. [D-PA-20], Rep. D'Amours, Norman E. [D-NH-1], Rep. Edwards, Don [D-CA-10], Rep. LaFalce, John J. [D-NY-29], Rep. Mitchell, Donald J. [R-NY-31], Rep. Leach, James A. [R-IA-2], Rep. Rahall, Nick J., II [D-WV-3], Rep. Bonker, Don [D-WA-3], Rep. Bonior, David E. [D-MI-10], Rep. Gilman, Benjamin A. [R-NY-20], Rep. Barnes, Michael D. [D-MD-8], Rep. Hollenbeck, Harold C. [R-NJ-9], Rep. Edgar, Robert W. [D-PA-7], Rep. Roukema, Marge [R-NJ-5], Rep. Mazzoli, Romano L. [D-KY-3], Rep. Mitchell, Parren J. [D-MD-7], Rep. Ratchford, William R. [D-CT-5], Rep. St Germain, Fernand J. [D-RI-1], Rep. Seiberling, John F. [D-OH-14], Rep. Wolpe, Howard E. [D-MI-3], Sen. Gore, Albert, Jr. [D-TN], Rep. Rangel, Charles B. [D-NY-15], Rep. Crockett, George W., Jr. [D-MI-13], Rep. Vento, Bruce F. [D-MN-4], Rep. Kogovsek, Ray [D-CO-3], Rep. Hughes, William J. [D-NJ-2], Rep. Conte, Silvio O. [R-MA-1], Rep. Conyers, John, Jr. [D-MI-13], Rep. Yatron, Gus [D-PA-6], Rep. Walgren, Doug [D-PA-18], Rep. Gejdenson, Sam [D-CT-2], Rep. Weiss, Ted [D-NY-17], Rep. Beilenson, Anthony C. [D-CA-24], Rep. Lowry, Mike [D-WA-7], Rep. Reuss, Henry S. [D-WI-5], Rep. Rosenthal, Benjamin S. [D-NY-8], Sen. Markey, Edward J. [D-MA], Rep. Frank, Barney [D-MA-4], Rep. Long, Clarence D. [D-MD-2], Rep. Bedell, Berkley W. [D-IA-6], Rep. Fish, Hamilton, Jr. [R-NY-19], Rep. Richmond, Frederick W. [D-NY-14], Rep. Walker, Robert S. [R-PA-16]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView documentsShare

Summary

Repeals provisions in the Economic Recovery Tax Act of 1981 regarding the windfall profit tax which: (1) increase the credit for royalty owners for 1981 and exempt royalty oil for 1982 and thereafter; (2) reduce the tax imposed on newly discovered oil; and (3) exempt independent producer stripper well oil.

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

Timeline

  1. 10 September 1981

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 10 September 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 10 September 1981

    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

Leesvertaling

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Sponsors

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Sources

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