United States · Bill · HR
H.R. 577 (104th)
To amend the Internal Revenue Code of 1986 to provide a tax credit for the production of oil and gas from existing marginal oil and gas wells and from new oil and gas wells.
Introduced
19 January 1995
Last action
—
Status
Referred to the House Committee on Ways and Means.
Sponsors
—
Subjects
Discovery layer
Source updated
2 January 2025
Summary
Amends the Internal Revenue Code to allow a business tax credit for producing crude oil and natural gas from new wells and marginal wells. Provides: (1) a formula for reducing such credit in years in which oil and gas prices increase; and (2) an inflation adjustment for such formula. Allows such credit against the regular and minimum tax.
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Votes
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Versions
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Documents
3 official files
Introduced in House (text)
Introduced in House · EN · 19 January 1995
Introduced in House (PDF)
Introduced in House · EN · 19 January 1995
Introduced in House
summary · EN · 19 January 1995
Sponsors
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Related records
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/104th-congress/house-bill/577
- Open data entity: https://api.congress.gov/v3/bill/104/hr/577