HR 1363 · 97th Congress · Taxation

Incremental Tertiary Oil Tax Exemption Act of 1981

Introduced 1981-01-28· Sponsored by Rep. Collins, James M. [R-TX-3]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1981-01-28)

Plain Language Summary

[AI summary unavailable — showing source text] Incremental Tertiary Oil Tax Exemption Act of 1981 - Amends the Internal Revenue Code to exempt incremental tertiary oil from the windfall profit tax. Treats as revenues, for purposes of the phaseout of the windfall profit tax, amounts which would be received but for the exemption granted by this Act.…

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