S 1295 · 93th Congress · Taxation
A bill to provide a tax credit for expenditures made in the exploration and development of new reserves of oil and gas in the United States.
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Referred to Senate Committee on Finance.(1973-03-19)
Plain Language Summary
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Provides a tax credit under the Internal Revenue Code of up to 12 1/2 percent of the expenditures made in the exploration and development of new reserves of oil and gas in the United States. Sets forth the time limitations on the use of such credit.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (3)
3 Republicans