HR 805
107th Congress
House
Taxation
Business income tax
Business losses
Commerce
Depletion allowances
Depreciation and amortization
Diesel motor
Dyes and dyeing
Economics and Public Finance
Energy
Energy prices
Energy tax credits
Gas industry
Gasoline tax
Geology
Geophysical prediction
Income tax
Indexing (Economic policy)
Minimum tax
Natural gas
Independent Energy Production Act of 2001
Introduced: February 28, 2001
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 28, 2001
Referred to the House Committee on Ways and Means.
Feb 28, 2001
Introduced in House
Plain-English summary
Independent Energy Production Act of 2001 - Marginal Well Preservation Act of 2001 - Amends the Internal Revenue Code to set forth provisions relating to domestic oil and gas production which: (1) establish a credit for producing oil and gas from marginal wells; and (2) permit a taxpayer to expense geological and geophysical expenditures and to delay rental payments in connection with oil and gas development.
Permits a five-year net operating loss carryback for losses attributable to operating mineral interests of independent oil and gas producers.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1