HR 12134 · 93th Congress · Taxation

A bill to increase the natural resources depletion allowance for income tax purposes on oil and gas wells, coal and lignite deposits in the United States.

Introduced 1973-12-21· Sponsored by Rep. Denholm, Frank E. [D-SD-1]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1973-12-21)

Plain Language Summary

[AI summary unavailable — showing source text] Provides, for income tax purposes, a 44 percent depletion rate on oil and gas wells, and a 20 percent depletion rate on lignite deposits in the United States.…

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