Oil Production Incentive Act of 1981

Summary

Oil Production Incentive Act of 1981 - Amends the Internal Revenue Code to eliminate the phased reduction of the rate of the percentage depletion allowance for independent oil and gas producers and royalty owners (reduced to 15 percent by 1984) and to retain the 22 percent rate for taxable years ending after 1980.

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

Timeline

1. 26 February 1981

   Introduced

   Read second time and referred to Senate Committee on Finance.

   Source: IntroReferral

2. 26 February 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 2 March 1981

   Committee

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

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 26 February 1981

  Open at official source

Sponsors

• Sen. Wallop, Malcolm [R-WY] · R · Sponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Sponsor
• Sen. Tower, John G. [R-TX] · R · Sponsor
• Sen. Simpson, Alan K. [R-WY] · R · Sponsor
• Sen. Goldwater, Barry [R-AZ] · R · Sponsor
• Sen. Garn, E. J. (Jake) [R-UT] · R · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• Sen. Melcher, John [D-MT] · D · Cosponsor
• Sen. Long, Russell B. [D-LA] · D · Cosponsor
• Sen. Johnston, J. Bennett [D-LA] · D · Cosponsor
• Sen. Laxalt, Paul D. [R-NV] · R · Cosponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Cosponsor
• · ssfi00 · Standing

Related records

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