HR 871
111th Congress
House
Taxation
Business investment and capital
Income tax deductions
Oil and gas
To amend the Internal Revenue Code of 1986 to provide that the taxable income limit on the allowance for depletion shall not apply in 2008 to domestic marginal oil or gas wells.
Introduced: February 4, 2009
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 4, 2009
Referred to the House Committee on Ways and Means.
Feb 4, 2009
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to provide that the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties shall not apply in 2008.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1