A bill to amend the Internal Revenue Code of 1986 to allow a tax credit for marginal domestic oil and natural gas well production and an election to expense geological and geophysical expenditures and delay rental payments.

3.0.0 696 2023-01-15T23:03:27Z 2023-01-15T23:03:27Z Senate S S 2003-03-24 108 ssfi00 Finance Committee Senate Standing Referred to 2003-03-24T21:44:01Z 2003-03-24 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2003-03-24 Sponsor introductory remarks on measure. (CR S4329) IntroReferral B00100 9 Library of Congress 2003-03-24 Introduced in Senate IntroReferral 10000 9 Library of Congress H001016 Sen. Hutchison, Kay Bailey [R-TX] KAY HUTCHISON R TX BAILEY N B000780 Sen. Breaux, John B. [D-LA] JOHN BREAUX D LA BERLINGER 2003-03-24 True C001035 Sen. Collins, Susan M. [R-ME] Susan Collins R ME M. 2003-03-24 True D000407 Sen. Domenici, Pete V. [R-NM] PETE DOMENICI R NM VICHI 2003-03-24 True B000243 Sen. Baucus, Max [D-MT] MAX BAUCUS D MT SIEBEN 2003-03-24 True L000550 Sen. Landrieu, Mary L. [D-LA] MARY LANDRIEU D LA 2003-03-24 True C001040 Sen. Chafee, Lincoln [R-RI] LINCOLN CHAFEE R RI D. 2003-03-24 True A000109 Sen. Allard, Wayne [R-CO] A. ALLARD R CO WAYNE 2003-03-24 True I000024 Sen. Inhofe, James M. [R-OK] Jim Inhofe R OK 2003-03-24 True L000447 Sen. Lott, Trent [R-MS] CHESTER LOTT R MS TRENT 2003-03-24 True T000162 Sen. Thomas, Craig [R-WY] CRAIG THOMAS R WY 2003-03-24 True C001056 Sen. Cornyn, John [R-TX] John Cornyn R TX 2003-05-06 False Taxation Commerce Corporation taxes Depreciation and amortization Economics and Public Finance Energy Energy prices Gas industry Geology Geophysical prediction Income tax Indexing (Economic policy) Minimum tax Oil well drilling Petroleum industry Prospecting Public Lands and Natural Resources Rent Tax credits Tax deductions Taxation

00 2003-03-24 Introduced in Senate 2006-11-28T17:35:40Z Allows both geological and geophysical expenditures on domestic oil and gas exploration and development and delay rental payments, at the taxpayer's election, to be deducted from gross income at the time incurred.]]>

A bill to amend the Internal Revenue Code of 1986 to allow a tax credit for marginal domestic oil and natural gas well production and an election to expense geological and geophysical expenditures and delay rental payments. Display Title A bill to amend the Internal Revenue Code of 1986 to allow a tax credit for marginal domestic oil and natural gas well production and an election to expense geological and geophysical expenditures and delay rental payments. Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to allow a tax credit for marginal domestic oil and natural gas well production and an election to expense geological and geophysical expenditures and delay rental payments. Introduced in Senate IS Introduced in Senate 2003-03-24T05:00:00Z 2003-03-24 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.