A bill to amend the Internal Revenue Code of 1986 to modify the application of the alternative minimum tax to oil and gas drillings investments, and for other purposes.

referredUnited States· United States Congress· EN

Introduced

6 February 1992

Last action

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Status

Read twice and referred to the Committee on Finance.

Summary

Amends the Internal Revenue Code to eliminate intangible drilling costs and percentage depletion as tax preference items for independent producers of oil and gas properties. Limits the amount of alternative minimum taxable income which may be reduced by reason of such elimination.

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Documents

2 official files

Introduced in Senate (text)

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Introduced in Senate (text)
Introduced in Senate · EN
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Introduced in Senate
summary · EN · 6 February 1992
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Sources

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Official source: https://www.congress.gov/bill/102nd-congress/senate-bill/2209
Open data entity: https://api.congress.gov/v3/bill/102/s/2209