legislation: 96-hr-8194

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
96-hr-8194 96 hr 8194 A bill to amend the Internal Revenue Code of 1954 to repeal the crude oil windfall profit tax on tier 2 oil and tier 3 oil, to phaseout the tax beginning October 1, 1981, and to provide that royalty owners shall be exempt from the tax. Taxation 1980-09-24 1980-09-24 Referred to House Committee on Ways and Means. House Rep. Edwards, Mickey [R-OK-5] OK R E000077 0 Amends the Internal Revenue Code to exempt tier 1 oil (stripper well oil and oil from an economic interest in a National Petroleum Reserve held by the United States), tier 2 oil (newly discovered, heavy, and incremental tertiary oil), and royalty owners from the crude oil windfall profit excise tax. Begins the phase-out of such tax on October 1, 1981. 2024-02-07T16:32:33Z  

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