A bill to enhance tertiary oil recovery by amending the Internal Revenue Code relating to pre-paid expenses in a tertiary oil project.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to treat as front-end oil exempt from the crude oil windfall profits tax any domestic crude oil which is a production payment (in payment of allowed expenses) carved out for exploration or development of a qualified mineral property which is the subject of a tertiary project of an independent producer. Includes prepaid expenses attributable to periods after September 30, 1981, among allowed expenses.…