A bill to amend the Internal Revenue Code of 1986 to eliminate the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties.
Amends the Internal Revenue Code to make permanent the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.
Actions
May 18, 2011
Sponsor introductory remarks on measure. (CR S3107)
May 17, 2011
Read twice and referred to the Committee on Finance.