HR 4670 · 99th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to increase the depletion allowance for oil and natural gas, and to allow percentage depletion for stripper well production of integrated producers.

Introduced 1986-04-23· Sponsored by Rep. Edwards, Mickey [R-OK-5]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1986-04-23)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase the percentage depletion allowance for oil and gas wells from 15 percent to 27 1/2 percent. Allows a percentage depletion allowance for stripper well oil and natural gas production of certain retailers and refiners.…

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

Cosponsors (1)

1 Democrat
Rep. Watkins, Wes [D-OK-3]OK