HR. 662In Committee
Promoting Domestic Energy Production Act
Allows certain corporations to lower income used for the corporate alternative minimum tax by counting specified domestic oil, gas, and geothermal drilling and depletion costs
Plain-English overview
What this bill does
Allows certain corporations to lower income used for the corporate alternative minimum tax by counting specified domestic oil, gas, and geothermal drilling and depletion costs
Key points
- Allow income reductions for drilling costs
- Allow income reductions for depletion expenses
Current status
Where it stands
Status
In Committee
Latest action
2025-01-23 — Referred to the House Committee on Ways and Means.
Related context
Topics and policy areas
undefinedTaxation