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HR 4672 114th Congress House

To amend the Internal Revenue Code of 1986 to make permanent the exception for marginal production from the taxable income limit on percentage depletion for oil and natural gas wells.

Introduced: March 2, 2016 See on congress.gov
Taxation Income tax deductionsOil and gas
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) 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
Mar 2, 2016
Referred to the House Committee on Ways and Means.
Mar 2, 2016
Introduced in House
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 Latest action March 2, 2016

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

This bill amends the Internal Revenue Code to make permanent the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.

 Related & companion bills 1
  • S 948 Related bill A bill to amend the Internal Revenue Code of 1986 to eliminate the taxable income limit on percentage depletion for oil…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 4672: To amend the Internal Revenue Code of 1986 to make permanent the exception for marginal production from the taxable income limit on percentage depletion for oil and natural gas wells.. 114th Congress. Open America. https://openamerica.io/bill/114-HR-4672/
MLA
"H.R. 4672: To amend the Internal Revenue Code of 1986 to make permanent the exception for marginal production from the taxable income limit on percentage depletion for oil and natural gas wells.." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-4672/.
Bluebook (legal)
H.R. 4672, 114th Cong. (2026), https://openamerica.io/bill/114-HR-4672/.
Markdown link
[H.R. 4672: To amend the Internal Revenue Code of 1986 to make permanent the exception for marginal production from the taxable income limit on percentage depletion for oil and natural gas wells.](https://openamerica.io/bill/114-HR-4672/)
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