HR 7348 · 96th Congress · Taxation
A bill to amend the Internal Revenue Code of 1954 to provide that oil from any royalty interest shall be exempt from the windfall profit tax.
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1980-05-14)
Plain Language Summary
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Amends the Internal Revenue Code to exempt from the windfall profit tax any domestic crude oil owned through a royalty interest.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (16)
7 Democrats9 Republicans