H.R. 5486 — A bill to repeal certain provisions of the Economic Recovery Tax Act of 1981 which reduce the crude oil windfall profit tax.

Summary

Repeals provisions in the Economic Recovery Tax Act of 1981 regarding the windfall profit tax which: (1) increase the credit for royalty owners for 1981 and exempt royalty oil for 1982 and thereafter; (2) reduce the tax imposed on newly discovered oil; and (3) exempt independent producer stripper well oil.

Full Text

Related Legislation

H.R. 4460A bill to repeal those provisions of the Economic Recovery Tax Act of 1981 which extended the credit against the windfall profit tax on domestic crude oil for royalty owners, which reduced the rate of such tax on newly discovered oil, and which exempted from such tax independent producer stripper well oil.
1981-09-10Referred to House Committee on Ways and Means.
Related

Legislative Actions

1982-02-09
Introduced in House
1982-02-09
Introduced in House
1982-02-09
Referred to House Committee on Ways and Means.

A bill to repeal certain provisions of the Economic Recovery Tax Act of 1981 which reduce the crude oil windfall profit tax.

Sponsors

Subjects

Summary

Full Text

Related Legislation

Legislative Actions

Ask about this bill