HR 5124 · 96th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 with respect to the treatment of a transfer of proven oil and gas properties by persons to a controlled corporation.

Introduced 1979-08-02· Sponsored by Rep. Lederer, Raymond F. [D-PA-3]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1979-08-02)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to set forth rules for the allocation of amounts of oil and natural gas between shareholders and controlled corporations for purposes of computing the percentage depletion allowance.…

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

Cosponsors (1)

1 Democrat
Rep. Murphy, Austin J. [D-PA-22]