A bill to eliminate the requirement under section 107 of the Natural Gas Policy Act of 1978 that the price allowable under that section is permitted only if elected in lieu of any tax incentive allowed for the production of the natural gas involved.

[AI summary unavailable — showing source text] Amends the Natural Gas Policy Act of 1978 to repeal the provision permitting the maximum lawful price for high-cost natural gas upon the sale of such gas only if elected in lieu of any tax incentive allowed for the production of the gas involved.…