I 111th CONGRESS 1st Session H. R. 871 IN THE HOUSE OF REPRESENTATIVES February 4, 2009 Mr. Conaway (for himself, Mr. Boren, Mr. Olson, Mr. Brady of Texas, Mr. Carter, Mr. Burgess, Mr. Barton of Texas, Mr. Culberson, Mr. Thornberry, Mr. Boustany, Mr. Scalise, Mr. Neugebauer, Mr. Gene Green of Texas, Mr. Rodriguez, Mr. Ortiz, Mr. Reyes, and Mr. Gonzalez) 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 provide that the taxable income limit on the allowance for depletion shall not apply in 2008 to domestic marginal oil or gas wells.

1.

Taxable income limit on allowance for depletion not to apply in 2008 to domestic marginal oil or gas wells

(a)

In general

Subparagraph (H) of section 613A(c)(6) of the Internal Revenue Code of 1986 is amended by striking taxable year— and all that follows and inserting taxable year beginning after December 31, 1997, and before January 1, 2010.. (b)

Effective date

The amendment made by subsection (a) shall apply to taxable years beginning before, on, or after the date of the enactment of this Act.