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United States · Bill · S

S. 566 (97th)

Oil Production Incentive Act of 1981

openUnited States· United States Congress· EN

Introduced

26 February 1981

Last action

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Status

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

Sponsors

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Subjects

Discovery layer

Source updated

29 August 2025

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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.

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Documents

1 official file

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