Bill116th CongressFiled Apr 11, 2019Taxation
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.
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Under committee review
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What it doesSummary introduced in senate (Apr 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.
What just happenedApr 11, 2019
Read twice and referred to the Committee on Finance.
Who’s behind it
Sen. Inhofe, James M. [R-OK](R-OK)Sponsor
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- Introduced in SenateApr 11, 2019
- Apr 11, 2019IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Apr 11, 2019IntroReferral10000
Introduced in Senate