S.905: 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.

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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.

3/15/2007--Introduced.

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.

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Latest Actions

03/15/2007 - Sponsor introductory remarks on measure. (CR S3212)
03/15/2007 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3213)

Bill Text

File name		Last Updated
	S.905 Introduced in Senate	08/31/2007

Important People

Sponsor

James M. Inhofe

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S.905: 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.

James M. Inhofe

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Important People

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