To amend the Internal Revenue Code of 1986 to provide that the taxable income limit on the allowance for depletion shall not apply in 2008 to domestic marginal oil or gas wells.
Amends the Internal Revenue Code to provide that the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties shall not apply in 2008.
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Feb 4, 2009
Referred to the House Committee on Ways and Means.