HR 3424 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to repeal the treatment of intangible drilling costs as an item of tax preference.

Introduced 1981-05-05· Sponsored by Rep. Edwards, Mickey [R-OK-5]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1981-05-05)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to repeal provisions listing intangible drilling costs made in connection with oil, gas, and geothermal resources development as a tax preference item for purposes of the minimum tax.…

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