To amend the Internal Revenue Code of 1986 to suspend for an additional year the taxable income limit on percentage depletion for oil and natural gas from marginal wells.

Fact Sheet API

Bill Number

HR 4209

Introduced

Dec 3, 2009

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Income tax deductions Oil and gas Taxation

Full Text

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Votes

Summary

Amends the Internal Revenue Code to extend through 2010 the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.

Actions

Dec 3, 2009

Referred to the House Committee on Ways and Means.
Dec 3, 2009

Introduced in House

Amendments

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