HR 13409 · 93th Congress · Petroleum industry

A bill to amend the Internal Revenue Code of 1954 to provide that percentage depletion shall not be allowed in the case of mines, wells, and other natural deposits located in foreign territory.

Introduced 1974-03-12· Sponsored by Rep. McDade, Joseph M. [R-PA-10]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1974-03-12)

Plain Language Summary

[AI summary unavailable — showing source text] Provides that the percentage depletion deduction under the Internal Revenue Code shall not be allowed in the case of mines, wells, and other natural deposits located in foreign territory.…

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