A bill to amend the Internal Revenue Code of 1954 to eliminate the phase-down of the rate of percentage depletion for independent producers and royalty holders.

referredUnited States· United States Congress· EN

Introduced

29 April 1980

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 (phased-down to 15 percent by 1984) and to retain the 22 percent rate for taxable years ending after 1980.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Introduced in House
summary · EN · 29 April 1980
Open at official source

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/96th-congress/house-bill/7207
Open data entity: https://api.congress.gov/v3/bill/96/hr/7207