Protecting America’s Small Oil and Gas Producers and Rural Jobs Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 8034 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 8034 To amend the Internal Revenue Code of 1986 to modify certain percentage depletion rules with respect to oil and gas wells. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES March 20, 2026 Mr. Mann (for himself, Mr. Estes, Mr. Schmidt, and Mr. Pfluger) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to modify certain percentage depletion rules with respect to oil and gas wells. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Protecting America's Small Oil and Gas Producers and Rural Jobs Act''. SEC. 2. MODIFICATION OF CERTAIN PERCENTAGE DEPLETION RULES WITH RESPECT TO OIL AND GAS WELLS. (a) Percentage Depletion Rate Calculation Modified With Respect to Marginal Properties.--Section 613A(c)(6)…