Oil and Gas Small Investor Incentive Act of 1990

[AI summary unavailable — showing source text] Oil and Gas Small Investor Incentive Act of 1990 - Amends the Internal Revenue Code to reduce the amount of excess intangible drilling costs for non-geothermal oil and gas properties as an item of tax preference under the alternative minimum tax. Revises the exception of oil and gas working interests to the passive activity loss rules by including taxpayers who hold any working interest in any oil or gas property through an entity which limits the taxpayer's liability with respect to such interest to a specified extent.…