I 111th CONGRESS 1st Session H. R. 4209 IN THE HOUSE OF REPRESENTATIVES December 3, 2009 Mr. Teague (for himself and Mrs. Lummis) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to suspend for an additional year the taxable income limit on percentage depletion for oil and natural gas from marginal wells.

1.

Additional 1-year suspension of taxable income limit on percentage depletion for oil and natural gas from marginal wells

(a)

In general

Clause (ii) of section 613A(c)(6)(H) of the Internal Revenue Code of 1986 (relating to temporary suspension of taxable income limit with respect to marginal production) is amended by striking January 1, 2010 and inserting January 1, 2011. (b)

Effective date

The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 2009.