US SB1217 | 2019-2020 | 116th Congress

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on April 11 2019 - 25% progression, died in committee
Action: 2019-04-11 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Modifies the tax requirements for certain oil and gas companies to eliminate the taxable income limitation on the percentage depletion allowance for oil and natural gas produced from marginal properties.

Tracking Information

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Title

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.

Sponsors


History

DateChamberAction
2019-04-11SenateRead twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

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