S. 2196, A bill to amend the Internal Revenue Code of 1986 to extend the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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S. 2196 would amend the Internal Revenue Code of 1986 to extend the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties.

Detailed Summary

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Status of the Legislation

Latest Major Action: 10/18/2007: Referred to Senate committee. Status: Referred to the Committee on Finance.

Points in Favor

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Points Against

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