HR 2072 · 105th Congress · Taxation

Inactive Well Recovery Act

Introduced 1997-06-26· Sponsored by Rep. Thornberry, Mac [R-TX-13]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1997-06-26)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (20)

8 Democrats12 Republicans
Rep. Barton, Joe [R-TX-6]TX
Rep. Smith, Lamar [R-TX-21]TX
Rep. Frost, Martin [D-TX-24]TX
Rep. Sandlin, Max [D-TX-1]TX
Rep. Watts, J. C., Jr. [R-OK-4]OK
Rep. Combest, Larry [R-TX-19]TX
Rep. Reyes, Silvestre [D-TX-16]TX
Rep. Lampson, Nick [D-TX-9]TX
Rep. Green, Gene [D-TX-29]TX
Rep. Turner, Jim [D-TX-2]TX
Rep. Johnson, Sam [R-TX-3]TX
Rep. DeLay, Tom [R-TX-22]TX
Rep. Sessions, Pete [R-TX-5]TX
Rep. Stenholm, Charles W. [D-TX-17]TX
Rep. Hall, Ralph M. [D-TX-4]TX
Rep. Largent, Steve [R-OK-1]OK
Rep. Watkins, Wes [R-OK-3]OK
Rep. Bonilla, Henry [R-TX-23]TX
Rep. Moran, Jerry [R-KS-1]KS
Rep. Granger, Kay [R-TX-12]TX