3.0.0 3395 2019-11-15T21:57:55Z 2019-11-15T21:57:55Z Senate S S 2008-07-31 110 ssfi00 Finance Committee Senate Standing Referred to 2008-07-31T23:28:30Z Marginal Well Production Preservation and Enhancement Act 110 6697 HR 2008-07-31 Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Identical bill CRS 2008-07-31 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2008-07-31 Sponsor introductory remarks on measure. (CR S7952) IntroReferral B00100 9 Library of Congress 2008-07-31 Introduced in Senate IntroReferral 10000 9 Library of Congress I000024 Sen. Inhofe, James M. [R-OK] Jim Inhofe R OK N Taxation Air pollution control Commerce Depletion allowances Depreciation and amortization Energy Energy storage Environmental Protection Gas industry Income tax Natural gas Oil pollution Oil well drilling Petroleum industry Tax deductions Waste water treatment Water pollution control Water treatment plants Taxation 00 2008-07-31 Introduced in Senate 2008-09-12T18:53:19Z Marginal Well Production Preservation and Enhancement Act - Amends the Internal Revenue Code to: (1) increase to 27.5% the percentage depletion allowance for domestic crude oil and natural gas production from marginal properties; (2) extend through 2008 the temporary suspension of the taxable income limit with respect to marginal production of crude oil and natural gas; and (3) accelerate to three years the recovery period of qualified tertiary injectant property for depreciation purposes.

Amends the Clean Air Act with respect to emissions from small oil and gas exploration and production-related equipment.

Amends the Federal Water Pollution Control Act to: (1) amend the definition of "wastewater treatment facility" to include produced water from an oil production facility; and (2) require the Administrator of the Environmental Protection Agency (EPA) to establish cost-effective minimal requirements for the prevention of oil and hazardous substance discharges for small facilities with oil storage capacities of less than 50,000 gallons at which no single tank exceeds a nominal capacity of 21,000 gallons.

]]> Marginal Well Production Preservation and Enhancement Act Short Titles as Introduced Marginal Well Production Preservation and Enhancement Act Display Title Marginal Well Production Preservation and Enhancement Act Official Title as Introduced A bill to provide for marginal well production preservation an enhancement. Introduced in Senate 2008-07-31T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s3395is/xml/BILLS-110s3395is.xml 2008-07-31 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.