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.
USA116th CongressS-1217| Senate
| Updated: 4/11/2019
James M. Inhofe
Republican Senator
Oklahoma
Finance Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
This bill 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.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Bill from Previous Congress
S 115-2674A 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.
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.
USA116th CongressS-1217| Senate
| Updated: 4/11/2019
This bill 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.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Bill from Previous Congress
S 115-2674A 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.
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