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Home > Federal Government > S.2217
Chief Sponsor:

James M. Inhofe

Tagged in: Depletion allowances, Energy, Income tax, Natural gas, Oil well drilling, Taxation

Latest Update: Wednesday, October, 15th 2008

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A bill to amend the Internal Revenue Code of 1986 to extend the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties.

10/23/2007--Introduced.

Amends the Internal Revenue Code to extend through 2009 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
  • 10/24/2007 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 440.
  • 10/23/2007 - Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Bill Text
File name Last Updated
S.2217 Placed on Calendar in Senate10/27/2007