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HR 423 106th Congress House

To amend the Internal Revenue Code of 1986 to allow a 5-year net operating loss carryback for losses attributable to operating mineral interests of oil and gas producers.

Introduced: February 2, 1999 See on congress.gov
Taxation Business income taxBusiness lossesCommerceEnergy
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Gas industryIncome taxPetroleum industryTax deductions
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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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 25, 1999
Referred to the Subcommittee on Oversight.
Jan 19, 1999
Referred to the House Committee on Ways and Means.
Jan 19, 1999
Introduced in House
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 Latest action February 25, 1999

Referred to the Subcommittee on Oversight.

 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to allow a five-year net operating loss carryback for losses attributable to operating mineral interests of oil and gas producers.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 9
All 9 Republican 3
R
Calvert, Ken
California · Jul 12, 1999
OSE, DOUG
· Jun 23, 1999
FROST, MARTIN
· Mar 25, 1999
DOOLEY, CAL
· Mar 23, 1999
JOHN, CHRISTOPHER
· Mar 23, 1999
 R
Lucas, Frank D.
Oklahoma · Feb 23, 1999
COMBEST, LARRY
· Feb 2, 1999
 R
Moran, Jerry
Kansas · Feb 2, 1999
MCINNIS, SCOTT
· Jan 19, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 423: To amend the Internal Revenue Code of 1986 to allow a 5-year net operating loss carryback for losses attributable to operating mineral interests of oil and gas producers.. 106th Congress. Open America. https://openamerica.io/bill/106-HR-423/
MLA
"H.R. 423: To amend the Internal Revenue Code of 1986 to allow a 5-year net operating loss carryback for losses attributable to operating mineral interests of oil and gas producers.." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-423/.
Bluebook (legal)
H.R. 423, 106th Cong. (2026), https://openamerica.io/bill/106-HR-423/.
Markdown link
[H.R. 423: To amend the Internal Revenue Code of 1986 to allow a 5-year net operating loss carryback for losses attributable to operating mineral interests of oil and gas producers.](https://openamerica.io/bill/106-HR-423/)
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