A bill to amend the Internal Revenue Code of 1954 to exempt incremental tertiary oil from the crude oil windfall profit tax.
Incremental Tertiary Oil Tax Exemption Act of 1981 - Amends the Internal Revenue Code to exempt incremental tertiary oil from the windfall profit tax. Treats as revenues, for purposes of the phaseout of the windfall profit tax, amounts which would be received but for the exemption granted by this Act.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line