To amend the Internal Revenue Code of 1986 to increase the percentage depletion deduction for oil and natural gas produced from stripper well properties, and for other purposes.
Stripper Well Operators Preservation Act of 1993 - Amends the Internal Revenue Code to increase the percentage depletion for stripper wells.
Repeals the net income limitation on percentage depletion for oil and gas properties.
Expands the enhanced oil recovery tax credit to apply to stripper well production costs.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E1007-1009)
Referred to the House Committee on Ways and Means.
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