HR 2178 · 97th Congress · Taxation

A bill to exempt certain royalty interests from the windfall profit tax.

Introduced 1981-02-25· Sponsored by Rep. Watkins, Wes [D-OK-3]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: See H.R.4242.(1981-08-04)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exempt from the windfall profit tax crude oil from a qualified royalty interest. Defines "qualified royalty interest" to mean an economic interest other than an operating mineral interest.…

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