A bill to amend the Internal Revenue Code of 1954 to exempt independent producer oil from the windfall profit tax and to allow certain royalty owners the exemption for such oil.

referredUnited States· United States Congress· EN

Introduced

7 May 1980

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to exempt from the windfall profit tax: (1) independent producer oil; and (2) royalty interests attributable to ownership of the property from which such oil is produced.

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Documents

1 official file

Introduced in House
summary · EN · 7 May 1980
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/96th-congress/house-bill/7300
Open data entity: https://api.congress.gov/v3/bill/96/hr/7300