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HR 497 106th Congress House

Emergency Oil and Gas Recovery Act

Official title: To amend the Internal Revenue Code of 1986 to exclude from gross income gain from oil and gas produced from certain recovered inactive wells.

Introduced: April 20, 1999 See on congress.gov
Taxation Business income taxCommerceEnergyGas industry
More subjectsShow fewer subjects
Income taxPetroleum industrySecondary recovery of gasSecondary recovery of oilTax exclusion
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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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 2, 1999
Referred to the House Committee on Ways and Means.
Feb 2, 1999
Introduced in House
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 Latest action February 2, 1999

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Emergency Oil and Gas Recovery Act - Amends the Internal Revenue Code to exclude from gross income (if so elected by the taxpayer) income attributable to independent producer oil from a recovered inactive well. Includes both oil and natural gas in the definition of "independent producer oil." Prohibits deductions directly connected with amounts so excluded.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Republican 1
COMBEST, LARRY
· Apr 20, 1999
JOHN, CHRISTOPHER
· Apr 20, 1999
 R
Lucas, Frank D.
Oklahoma · Apr 20, 1999
SANDLIN, MAX
· Apr 20, 1999
STENHOLM, CHARLES
· Apr 20, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 497: Emergency Oil and Gas Recovery Act. 106th Congress. Open America. https://openamerica.io/bill/106-HR-497/
MLA
"H.R. 497: Emergency Oil and Gas Recovery Act." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-497/.
Bluebook (legal)
H.R. 497, 106th Cong. (2026), https://openamerica.io/bill/106-HR-497/.
Markdown link
[H.R. 497: Emergency Oil and Gas Recovery Act](https://openamerica.io/bill/106-HR-497/)
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