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.
USA115th CongressS-2674| Senate
| Updated: 4/16/2018
James M. Inhofe
Republican Senator
Oklahoma
Finance Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
Income tax deductionsOil and gas
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.
USA115th CongressS-2674| Senate
| Updated: 4/16/2018
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.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
James M. Inhofe
Republican Senator
Oklahoma
Finance Committee
Taxation
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Income tax deductionsOil and gas