Bill Summary & Status for the 106th Congress

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S.2265
Sponsor: Sen Hutchison, Kay Bailey(introduced 3/21/2000)
Latest Major Action: 3/21/2000 Referred to Senate committee
Title: A bill to amend the Internal Revenue Code of 1986 to preserve marginal domestic oil and natural gas well production, and for other purposes.
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TITLE(S):  ()
STATUS: (color indicates Senate actions)
3/21/2000:
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1523-1524)
COMMITTEE(S):
RELATED BILL DETAILS:

***NONE***

AMENDMENT(S):

***NONE***

COSPONSORS(19), ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

Sen Abraham, Spencer - 9/28/2000 Sen Bingaman, Jeff - 3/21/2000
Sen Breaux, John B. - 3/21/2000 Sen Brownback, Sam - 3/21/2000
Sen Campbell, Ben Nighthorse - 4/6/2000 Sen Chafee, Lincoln D. - 9/27/2000
Sen Cochran, Thad - 3/29/2000 Sen Domenici, Pete V. - 3/22/2000
Sen Gramm, Phil - 3/21/2000 Sen Helms, Jesse - 5/2/2000
Sen Hutchinson, Tim - 3/29/2000 Sen Inhofe, James M. - 3/21/2000
Sen Landrieu, Mary L. - 3/22/2000 Sen Lott, Trent - 3/21/2000
Sen Nickles, Don - 3/22/2000 Sen Robb, Charles S. - 9/5/2000
Sen Roberts, Pat - 4/25/2000 Sen Smith, Bob - 3/23/2000
Sen Thomas, Craig - 3/21/2000

SUMMARY AS OF:
3/21/2000--Introduced.

Marginal Well Preservation Act of 2000 - Amends the Internal Revenue Code to set forth provisions relating to domestic oil and gas production which: (1) establish a credit for producing oil and gas from marginal wells; and (2) permit a taxpayer to expense geological and geophysical expenditures and to delay rental payments in connection with oil and gas development.