To amend the Internal Revenue Code of 1986 to make permanent the exception for marginal production from the taxable income limit on percentage depletion for oil and natural gas wells.

Fact Sheet API

Bill Number

HR 4672

Introduced

Mar 2, 2016

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

This bill 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

Mar 2, 2016

Referred to the House Committee on Ways and Means.
Mar 2, 2016

Introduced in House

Amendments

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