A bill to amend the Internal Revenue Code of 1986 to eliminate the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties.

Summary

Amends the Internal Revenue Code to make permanent the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.

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

Timeline

1. 17 May 2011

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 17 May 2011

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 18 May 2011

   Introduced

   Sponsor introductory remarks on measure. (CR S3107)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 17 May 2011 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 17 May 2011

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 May 2011

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 17 May 2011

  Open at official source

Sponsors

• Rep. Inhofe, James M. [R-OK-1] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → To amend the Internal Revenue Code of 1986 to eliminate the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties.