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.

United States115th CongressS-2674Senate
Updated: Apr 16, 2018

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.

Bill texts

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Introduced (Senate)View official text

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Timeline

  1. Read twice and referred to the Committee on Finance.

    Senate

  2. Introduced in Senate

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