S 90 · 97th Congress · Taxation
A bill to exempt certain royalty interests from the windfall profit tax.
Bill Progress
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Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read second time and referred to Senate Committee on Finance.(1981-01-15)
Plain Language Summary
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Amends the Internal Revenue Code to exempt from the windfall profit tax crude oil from a qualified royalty interest. Defines "qualified royalty interest" to mean an economic interest other than an operating mineral interest.…
Summarized by Claude AI · Non-partisan · For informational purposes only