H.R. 3383 — A bill to amend the Internal Revenue Code of 1954 to exempt from the windfall profit tax the first thirty-four barrels a day of crude oil production of independent producers and royalty holders.

Summary

Amends the Internal Revenue Code to exempt independent oil producers, in an amount equal to 34 barrels of crude oil multiplied by the number of days in the quarter, from the windfall profit tax.

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Related Legislation

H.R. 4242Economic Recovery Tax Act of 1981
1981-08-13Became Public Law No: 97-34.
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Legislative Actions

1981-05-01
Introduced in House
1981-05-01
Introduced in House
1981-05-01
Referred to House Committee on Ways and Means.
1981-08-04
See H.R.4242.

A bill to amend the Internal Revenue Code of 1954 to exempt from the windfall profit tax the first thirty-four barrels a day of crude oil production of independent producers and royalty holders.

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