HR 7179 · 96th Congress · Taxation
A bill to amend the Internal Revenue Code of 1954 to provide more equitable treatment of royalty owners under the crude oil windfall profit tax.
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1980-04-28)
Plain Language Summary
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Amends the Internal Revenue Code to exempt royalty owners of oil and gas interests from the windfall profit tax to the extent of ten barrels of production per day.…
Summarized by Claude AI · Non-partisan · For informational purposes only