S. 2977 — A bill to repeal the deduction of intangible drilling and development costs of oil and gas wells.

Summary

Repeals the deduction allowed under the Internal Revenue Code for the tangible drilling and development costs of oil and gas wells. (Repeals 26 U.S.C. 613 (b) (1) (A))

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Legislative Actions

1974-02-07
Introduced in Senate
1974-02-07
Referred to Senate Committee on Finance.

A bill to repeal the deduction of intangible drilling and development costs of oil and gas wells.

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Summary

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