HR 12310 · 93th Congress · Petroleum industry

A bill to amend the Internal Revenue Code of 1954 to provide that the credit for foreign taxes shall not be allowed in the case of taxes paid to a foreign country with respect to income derived from the production of petroleum (or petroleum byproducts) or natural gas.

Introduced 1974-01-28· Sponsored by Rep. Long, Clarence D. [D-MD-2]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1974-01-28)

Plain Language Summary

[AI summary unavailable — showing source text] Provides that the credit for foreign taxes shall not be allowed in the case of taxes paid to a foreign country with respect to income derived from the production of petroleum (or petroleum byproducts) or natural gas. (Amends 26 U.S.C. 901)…

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