HR 12322 · 93th Congress · Petroleum industry

A bill to amend the Internal Revenue Code of 1954 to phase out the foreign tax credit attributable to taxable income from foreign oil and gas wells.

Introduced 1974-01-29· Sponsored by Rep. Aspin, Les [D-WI-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.(1974-01-29)

Plain Language Summary

[AI summary unavailable — showing source text] Eliminates, after December 31, 1976, the foreign tax credit under the Internal Revenue Code attributable to taxable income from foreign oil and gas wells.…

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