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HR 4460 97th Congress House Taxation Excess profits tax Petroleum and petroleum products Petroleum industry Secondary recovery of oil Tax credits Tax exemption Tax rates

A bill to repeal those provisions of the Economic Recovery Tax Act of 1981 which extended the credit against the windfall profit tax on domestic crude oil for royalty owners, which reduced the rate…

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A bill to repeal those provisions of the Economic Recovery Tax Act of 1981 which extended the credit against the windfall profit tax on domestic crude oil for royalty owners, which reduced the rate of such tax on newly discovered oil, and which exempted from such tax independent producer stripper well oil.

Introduced: September 10, 1981 See on congress.gov
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This bill died when the 97th Congress ended
It never became law before the 97th Congress (1981–1982) 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
Sep 10, 1981
Referred to House Committee on Ways and Means.
Sep 10, 1981
Introduced in House
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 Plain-English summary Congressional Research Service

Repeals provisions in the Economic Recovery Tax Act of 1981 regarding the windfall profit tax which: (1) increase the credit for royalty owners for 1981 and exempt royalty oil for 1982 and thereafter; (2) reduce the tax imposed on newly discovered oil; and (3) exempt independent producer stripper well oil.

What's happening now September 10, 1981

Referred to House Committee on Ways and Means.

 Related & companion bills 1
  • HR 5486 Identical bill A bill to repeal certain provisions of the Economic Recovery Tax Act of 1981 which reduce the crude oil windfall profit…
 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Hoyer, Steny H.
Maryland · Feb 8, 1982
 D
Schumer, Charles E.
New York · Feb 8, 1982
 D
Markey, Edward J.
Massachusetts · Feb 2, 1982
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4460: A bill to repeal those provisions of the Economic Recovery Tax Act of 1981 which extended the credit against the windfall profit tax on domestic crude oil for royalty owners, which reduced the rate of such tax on newly discovered oil, and which exempted from such tax independent producer stripper well oil.. 97th Congress. Open America. https://openamerica.io/bill/97-HR-4460/
MLA
"H.R. 4460: A bill to repeal those provisions of the Economic Recovery Tax Act of 1981 which extended the credit against the windfall profit tax on domestic crude oil for royalty owners, which reduced the rate of such tax on newly discovered oil, and which exempted from such tax independent producer stripper well oil.." 97th Congress, 2026, Open America, https://openamerica.io/bill/97-HR-4460/.
Bluebook (legal)
H.R. 4460, 97th Cong. (2026), https://openamerica.io/bill/97-HR-4460/.
Markdown link
[H.R. 4460: A bill to repeal those provisions of the Economic Recovery Tax Act of 1981 which extended the credit against the windfall profit tax on domestic crude oil for royalty owners, which reduced the rate of such tax on newly discovered oil, and which exempted from such tax independent producer stripper well oil.](https://openamerica.io/bill/97-HR-4460/)
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