S. 1007 (112th): A bill to amend the Internal Revenue Code of 1986 to eliminate the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties.

Introduced:

May 17, 2011
112th Congress, 2011–2013

Status:
Died in a previous Congress

This bill was introduced on May 17, 2011, in a previous session of Congress, but was not enacted.

Sponsor:

James “Jim” Inhofe
Senator from Oklahoma
Republican

Text:

Read Text »
Last Updated: May 17, 2011
Length: 2 pages

About the bill

Summary (CRS)
5/17/2011--Introduced.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. Read more >
Related Bills

Legislative action may be ocurring on one of these bills in lieu of or in parallel to action on this bill.

S. 289 (111th) was a previous version of this bill.

Referred to Committee
Last Action: Jan 21, 2009

S. 1833 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Dec 17, 2013

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What is a bill?

The “S.” in “S. 1007” means this is a Senate bill in the United States Congress. A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

The bill’s title was written by its sponsor.

History

Introduced
May 17, 2011

Details

Cosponsors
none
Committee Assignments

The committee chair determines whether a bill will move past the committee stage.

Votes

There have been no votes related to this bill.

Subject Areas
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Primary Source

THOMAS.gov (The Library of Congress)

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