HR 2180 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to exempt from the windfall profits tax crude oil from certain royalty interests.

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

Bill Progress

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 crude oil under a qualified royalty interest from the the windfall profit tax. Defines "qualified royalty interest" to mean an economic interest other attributable to ownership of the property from which the oil is produced.…

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

Cosponsors (2)

2 Democrats