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]
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.
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
Sen. James Inhofe [R-OK] |
History
Date | Chamber | Action |
---|---|---|
2019-04-11 | Senate | Read twice and referred to the Committee on Finance. |
Subjects
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/1217/all-info |
Text | https://www.congress.gov/116/bills/s1217/BILLS-116s1217is.pdf |