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- H.R.2072
H.R.2072: Inactive Well Recovery Act
About This Bill
- This bill was introduced in the 105th Congress
- This bill is primarily about taxation
- Introduced June 26, 1997
- Latest Major Action June 26, 1997
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
21 (9 Democrats, 13 Republicans)
Bill Summary
Inactive Well Recovery Act - Amends the Internal Revenue Code to exclude from gross income (if so elected by the taxpayer) income attributable to independent producer oil from a recovered inactive well. Includes both oil and natural gas in the definition of "independent producer oil." Prohibits deductions directly connected with amounts so excluded.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| June 26, 1997 |
Introduced in the House by William M. Thornberry (R-Texas) |