A bill to amend the Internal Revenue Code of 1986 to clarify that natural gas gathering lines are 7-year property for purposes of depreciation.

Fact Sheet API

Bill Number

S 593

Introduced

Mar 22, 2001

Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2732)

Sponsor

Cosponsors

Topics

Business income tax Commerce Depreciation and amortization Energy Gas industry Gas pipelines Income tax Natural gas Tax deductions Taxation Transportation and Public Works

Full Text

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Votes

Summary

Amends the Internal Revenue Code to classify any natural gas gathering line as seven-year property for purposes of depreciation. Defines natural gas gathering line.

Actions

Mar 22, 2001

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2732)
Mar 22, 2001

Introduced in Senate

Amendments

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