HR 4587
97th Congress
House
Taxation
Excess profits tax
Petroleum and petroleum products
Petroleum industry
Secondary recovery of oil
Tax credits
Tax exemption
Tax rates
Economic Recovery Tax Reform Act of 1981
Introduced: September 24, 1981
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 24, 1981
Referred to House Committee on Ways and Means.
Sep 24, 1981
Introduced in House
Plain-English summary
Economic Recovery Tax Reform Act of 1981 - 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
Referred to House Committee on Ways and Means.
Committees of jurisdiction
1