Enhanced Oil Recovery Amendments of 1981

Enhanced Oil Recovery Amendments of 1981 - Amends the Internal Revenue Code to exempt from the windfall profit tax domestic crude oil produced by the holder of an interest in a front-end tertiary project on a qualified property for the period from the acquisition of the interest (or January 27, 1981, whichever is later) until the windfall profit tax that would be imposed equals the amount of the allowed expenses paid or incurred on or after April 1, 1981.