HR 1971 · 106th Congress · Taxation

Domestic Energy Production Security and Stabilization Act

Introduced 1999-05-26· Sponsored by Rep. Watkins, Wes [R-OK-3]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1999-05-26)

Plain Language Summary

[AI summary unavailable — showing source text] Domestic Energy Production Security and Stabilization Act - Amends the Internal Revenue Code to set forth provisions relating to domestic oil and gas production which, among other things: (1) establish a credit for producing oil and gas from marginal wells; (2) make the depreciation adjustment inapplicable to oil and gas assets; and (3) permit a taxpayer to expense geological and geophysical expenditures and to delay rental payments in connection with oil and gas development.…

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

Cosponsors (2)

1 Democrat1 Republican