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

This bill amends the Internal Revenue Code to eliminate the taxable income limitation on the percentage depletion allowance for oil and natural gas produced from marginal properties.

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

Timeline

1. 16 April 2018

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 16 April 2018

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 16 April 2018 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 16 April 2018

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 16 April 2018

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 16 April 2018

  Open at official source

Sponsors

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

Related records

• related to → 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.