A bill to amend the Internal Revenue Code of 1986 to extend the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties.

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Bill Number

S 2217

Introduced

Oct 23, 2007

Latest Action

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 440.

Sponsor

Cosponsors

Topics

Depletion allowances Energy Income tax Natural gas Oil well drilling Taxation

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Votes

Summary

Amends the Internal Revenue Code to extend through 2009 the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.

Actions

Oct 24, 2007

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 440.
Oct 23, 2007

Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Oct 23, 2007

Introduced in Senate

Amendments

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