A bill to amend the Internal Revenue Code of 1954 to make permanent the 22 percent rate of percentage depletion for independent producers and royalty owners.

referredUnited States· United States Congress· EN

Introduced

21 September 1981

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to eliminate the phased reduction of the rate of the percentage depletion allowance for independent oil and gas producers and royalty owners (reduced to 15 percent by 1984) and to retain the 22 percent rate for taxable years ending after 1980.

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Documents

1 official file

Introduced in House
summary · EN · 21 September 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/4532
Open data entity: https://api.congress.gov/v3/bill/97/hr/4532