A bill to amend the Internal Revenue Code of 1986 to modify the small refiner exception to the oil depletion deduction.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to revise the definition of certain small crude oil refiners eligible for the exemption from limitations applicable to the percentage depletion allowance for oil and gas wells to provide that such refiners will qualify for the exemption if their average daily refinery runs do not exceed 75,000 barrels (currently, 50,000 barrels).…