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.

Fact Sheet API

Bill Number

S 948

Introduced

Apr 15, 2015

Latest Action

Read twice and referred to the Committee on Finance.

Sponsor

Cosponsors

Topics

Income tax deductions Oil and gas Taxation

Full Text

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Votes

Summary

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

Apr 15, 2015

Read twice and referred to the Committee on Finance.
Apr 15, 2015

Introduced in Senate

Amendments

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