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HR 497 106th Congress House Taxation Business income tax Commerce Energy Gas industry Income tax Petroleum industry Secondary recovery of gas Secondary recovery of oil Tax exclusion

Emergency Oil and Gas Recovery Act

Introduced: February 2, 1999 See on congress.gov
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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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 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.

What's happening now February 2, 1999

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 · 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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