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 States116th CongressS-1217Senate
Updated: Apr 11, 2019

Summary

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.

Bill texts

Available versions
Introduced (Senate)View official text

1 version available

All available records shown.

Timeline

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

    Senate

  2. Introduced in Senate

All available records shown.