A bill to amend the Internal Revenue Code of 1954 to permit individual retirement accounts, qualified retirement trusts and certain educational organizations to invest in working interests in oil and gas properties without incurring unrelated business taxable income.

Summary

Amends the Internal Revenue Code to allow individual retirement accounts, qualified retirement trusts and certain educational organizations to invest in working interests in domestic oil and gas properties without incurring unrelated business taxable income.

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

Timeline

1. 27 June 1983

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 27 June 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 30 June 1983

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department, Energy Department.

   Source: Committee

4. 1 August 1983

   Committee

   Subcommittee on Taxation and Debt Management. Hearings held. Hearings printed: S.Hrg. 98-499.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 27 June 1983

  Open at official source

Sponsors

• Rep. Armstrong, William L. [R-CO-5] · R · Sponsor
• Sen. Long, Russell B. [D-LA] · D · Sponsor
• Sen. Durenberger, Dave [R-MN] · R · Sponsor
• Sen. Wallop, Malcolm [R-WY] · R · Sponsor
• Chuck Grassley · R · Sponsor
• Rep. Symms, Steven D. [R-ID-1] · R · Sponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Sponsor
• Rep. Baucus, Max [D-MT-1] · D · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• Sen. Pryor, David H. [D-AR] · D · Sponsor
• Sen. Nickles, Don [R-OK] · R · Cosponsor
• · ssfi00 · Standing

Related records

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