Skip to main content
HR 2429 106th Congress House

To amend the Internal Revenue Code of 1986 to establish a 5-year recovery period for petroleum storage facilities.

Introduced: July 22, 1999 See on congress.gov
Taxation Business income taxCommerceDepreciation and amortizationEnergy
More subjectsShow fewer subjects
Income taxPetroleum industryPetroleum storageTax deductions
Sign in to write a letter Sign in to watch
This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) 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
Jul 1, 1999
Referred to the House Committee on Ways and Means.
Jul 1, 1999
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action July 1, 1999

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service
Amends the Internal Revenue Code to classify petroleum storage facilities as five-year property for depreciation purposes.
 Related & companion bills 1
  • S 1381 Identical bill A bill to amend the Internal Revenue Code of 1986 to establish a 5-year recovery period for petroleum storage facilitie…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Wicker, Roger F.
Mississippi · Jul 22, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2429: To amend the Internal Revenue Code of 1986 to establish a 5-year recovery period for petroleum storage facilities.. 106th Congress. Open America. https://openamerica.io/bill/106-HR-2429/
MLA
"H.R. 2429: To amend the Internal Revenue Code of 1986 to establish a 5-year recovery period for petroleum storage facilities.." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-2429/.
Bluebook (legal)
H.R. 2429, 106th Cong. (2026), https://openamerica.io/bill/106-HR-2429/.
Markdown link
[H.R. 2429: To amend the Internal Revenue Code of 1986 to establish a 5-year recovery period for petroleum storage facilities.](https://openamerica.io/bill/106-HR-2429/)
Report a problem