H.R. 4672 · 114th Congress
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.
- Stage
- In committee
- Sponsor
- Lynn Jenkins
- Introduced
- 2016-03-02
- Latest action
- 2016-03-02 · Introduced in House
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.