Congress: 93th

Sponsor: Representative Vanik, Charles A. (04/30/1974)

Committees: House - Ways and Means

Description: A bill to amend the Internal Revenue Code of 1954 to eliminate, in the case of any oil or gas well located outside the United States, the percentage depletion allowance and the option to deduct intangible drilling and development costs, and to deny a foreign tax credit with respect to the income derived from such well.

Lastest Action: 04/30/1974 Referred to House Committee on Ways and Means.  (All Actions)

Official: H.R.14488 -- 93th Congress