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HR 1648 105th Congress House Taxation Business income tax Commerce Depletion allowances Depreciation and amortization Energy Energy tax credits Gas industry Geology Geophysics Income tax Natural gas Oil well drilling Petroleum Petroleum industry Prospecting Public Lands and Natural Resources Rent Secondary recovery of oil Tax deductions

National Energy Security Act of 1997

Introduced: May 15, 1997 See on congress.gov
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 15, 1997
Referred to the House Committee on Ways and Means.
May 15, 1997
Introduced in House
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 Plain-English summary Congressional Research Service

National Energy Security Act of 1997 - Amends the Internal Revenue Code to repeal provisions relating to a limitation regarding the percentage depletion in the case of oil and gas wells.

Amends provisions relating to an enhanced oil recovery credit to include hydro injection in the definition of "qualified enhanced oil recovery project."

Allows an election to treat geological and geophysical expenses incurred in connection with the exploration for, or development of, domestic oil or gas as expenses which are not chargeable to capital account.

Allows an election to treat delay rental payments (amounts paid for the privilege of deferring development of an oil or gas well) incurred in connection with the development of domestic oil or gas as payments that are not chargeable to capital account, allowing any payments so treated as a deduction.

Requires, in the case of a tax shelter, treating economic performance regarding amounts paid during the taxable year for drilling an oil or gas well as having occurred within a taxable year if drilling commences before the close of the 180th (currently, the 90th) day after the close of the taxable year.

What's happening now May 15, 1997

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Lucas, Frank D.
Oklahoma · Jun 25, 1997
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1648: National Energy Security Act of 1997. 105th Congress. Open America. https://openamerica.io/bill/105-HR-1648/
MLA
"H.R. 1648: National Energy Security Act of 1997." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-1648/.
Bluebook (legal)
H.R. 1648, 105th Cong. (2026), https://openamerica.io/bill/105-HR-1648/.
Markdown link
[H.R. 1648: National Energy Security Act of 1997](https://openamerica.io/bill/105-HR-1648/)
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