HR 423 · 106th Congress · Taxation

To amend the Internal Revenue Code of 1986 to allow a 5-year net operating loss carryback for losses attributable to operating mineral interests of oil and gas producers.

Introduced 1999-01-19· Sponsored by Rep. Thomas, William M. [R-CA-21]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Oversight.(1999-02-25)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow a five-year net operating loss carryback for losses attributable to operating mineral interests of oil and gas producers.…

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

Cosponsors (20)

2 Democrats18 Republicans
Rep. Watkins, Wes [R-OK-3]OK
Rep. Cooksey, John [R-LA-5]LA
Rep. Bonilla, Henry [R-TX-23]TX
Rep. McInnis, Scott [R-CO-3]CO
Rep. Smith, Lamar [R-TX-21]TX
Rep. Combest, Larry [R-TX-19]TX
Rep. Moran, Jerry [R-KS-1]KS
Rep. Thornberry, Mac [R-TX-13]TX
Rep. Whitfield, Ed [R-KY-1]KY
Rep. Tiahrt, Todd [R-KS-4]KS
Rep. DeLay, Tom [R-TX-22]TX
Rep. Istook, Ernest J., Jr. [R-OK-5]OK
Rep. Lucas, Frank D. [R-OK-6]OK
Rep. Granger, Kay [R-TX-12]TX
Rep. Peterson, John E. [R-PA-5]PA
Rep. McCrery, Jim [R-LA-4]LA
Rep. Watts, J. C., Jr. [R-OK-4]OK
Rep. Dooley, Calvin M. [D-CA-20]CA
Rep. John, Christopher [D-LA-7]LA
Rep. Pombo, Richard W. [R-CA-11]CA