United States 112th Congress Status: Died 1 R cosponsors

S 1007 — A bill to amend the Internal Revenue Code of 1986 to eliminate the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties.

Last action — Sponsor introductory remarks on measure. (CR S3107)

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  1. ✓
    Introduced
  2. Died in session

This bill died with 112th Congress. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Internal Revenue Code to make permanent the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.

Bill Text

We don't have the full text on file for this bill yet.

Read S 1007 on the official United States source →

Action History

  1. Sponsor introductory remarks on measure. (CR S3107)

  2. Read twice and referred to the Committee on Finance.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

Income tax deductions Oil and gas Taxation
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Frequently asked questions

What does S 1007 do?
Amends the Internal Revenue Code to make permanent the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.
Who sponsors S 1007?
S 1007 is sponsored by James Inhofe (R).
What is the current status of S 1007?
This bill died with 112th Congress. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 1007?
Track S 1007 free on One Click Politics — get push/email alerts when it moves.

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