S 3124 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to permit qualified pension funds and certain educational organizations to invest in working interests in oil and gas properties without incurring unrelated business taxable income.

Introduced 1982-12-21· Sponsored by Sen. Armstrong, William L. [R-CO]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(1982-12-21)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow qualified pension funds and certain educational organizations to invest in working interests in oil and gas properties without incurring unrelated business taxable income.…

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

Cosponsors (2)

1 Democrat1 Republican
Sen. Long, Russell B. [D-LA]LA
Sen. Durenberger, Dave [R-MN]MN