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- S.1217
S.1217: 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.
About This Bill
- Introduced April 11, 2019
- Latest Major Action April 11, 2019
- See the six similar bills introduced in other congresses.
Bill Sponsor
Bill Version
- Introduced in Senate - April 11, 2019
Bill 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.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| April 11, 2019 |
Read twice and referred to the Committee on Finance.
|
| April 11, 2019 |
Introduced in the Senate by James M. Inhofe (R-Okla.) |