A bill to amend the Internal Revenue Code of 1954 to provide that, with respect to the Windfall Profit Tax, the holder of a net profits interest shall be treated as the producer of the same proportion of the production from the property as is represented by his net profits interest.

Amends the Internal Revenue Code, with respect to the crude oil windfall profit tax, to treat a holder of a net profit interest as a producer liable for payment of such tax on the portion of gross production allocated to him in proportion to his respective share, if any, of the net profits (computed without regard to such tax).