S 1217 · 116th Congress · Taxation

A bill to amend the Internal Revenue Code of 1986 to eliminate the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties.

Introduced 2019-04-11· Sponsored by Sen. Inhofe, James M. [R-OK]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(2019-04-11)

Plain Language Summary

[AI summary unavailable — showing source text] This bill modifies the tax requirements for certain oil and gas companies to eliminate the taxable income limitation on the percentage depletion allowance for oil and natural gas produced from marginal properties.…

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