HR 2451 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to provide, in lieu of the reduced rates for independent producer oil, an exemption of 1000 barrels per day from the crude oil windfall profit tax for independent producers and royalty owners.

Introduced 1981-03-11· Sponsored by Rep. Hance, Kent R. [D-TX-19]· 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 provide a limited exemption of independent producer oil from the windfall profit tax.…

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

Cosponsors (20)

11 Democrats9 Republicans
Rep. Loeffler, Tom [R-TX-21]TX
Rep. Wright, James C., Jr. [D-TX-12]TX
Rep. Michel, Robert H. [R-IL-18]IL
Rep. Albosta, Donald J. [D-MI-10]MI
Rep. Alexander, Bill [D-AR-1]AR
Rep. Andrews, Ike [D-NC-4]NC
Rep. Anthony, Beryl, Jr. [D-AR-4]AR
Rep. Ashbrook, John M. [R-OH-17]OH
Rep. Atkinson, Eugene V. [D-PA-25]PA
Rep. Badham, Robert E. [R-CA-40]CA
Rep. Bailey, Donald A. [D-PA-21]PA
Rep. Bailey, Wendell [R-MO-8]MO
Rep. Barnard, Doug, Jr. [D-GA-10]GA
Rep. Beard, Robin [R-TN-6]TN
Rep. Benedict, Cleve [R-WV-2]WV
Rep. Bereuter, Doug [R-NE-1]NE
Rep. Bethune, Ed [R-AR-2]AR
Rep. Boggs, Corinne C. (Lindy) [D-LA-2]LA
Rep. Lloyd, Marilyn [D-TN-3]TN
Rep. Bowen, David R. [D-MS-2]MS