A bill to amend the Internal Revenue Code of 1954 to make technical corrections with respect to the application after 1983 of the percentage depletion allowance to oil and natural gas resulting from secondary or tertiary processes.

Summary

Amends the Internal Revenue Code to provide that a percentage depletion rate of 15 percent (up to 1,000 barrels a day) for secondary and tertiary production shall be allowed independent producers and royalty owners after 1983.

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

Timeline

1. 21 July 1983

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 21 July 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 26 July 1983

   Committee

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

   Source: Committee

Votes

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Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 21 July 1983

  Open at official source

Sponsors

• Sen. Dole, Robert J. [R-KS] · R · Sponsor
• Sen. Long, Russell B. [D-LA] · D · Sponsor
• Sen. Wallop, Malcolm [R-WY] · R · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• Rep. Symms, Steven D. [R-ID-1] · R · Sponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Sponsor
• Sen. Tower, John G. [R-TX] · R · Sponsor
• Sen. Pryor, David H. [D-AR] · D · Cosponsor
• Sen. Johnston, J. Bennett [D-LA] · D · Cosponsor
• · ssfi00 · Standing

Related records

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