US SB224 | 2025-2026 | 119th Congress
Status
Spectrum: Partisan Bill (Republican 15-0)
Status: Introduced on January 23 2025 - 25% progression
Action: 2025-01-23 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Status: Introduced on January 23 2025 - 25% progression
Action: 2025-01-23 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Summary
A bill to amend the Internal Revenue Code of 1986 to allow intangible drilling and development costs to be taken into account when computing adjusted financial statement income.
Title
A bill to amend the Internal Revenue Code of 1986 to allow intangible drilling and development costs to be taken into account when computing adjusted financial statement income.
Sponsors
| Sen. James Lankford [R-OK] | Sen. John Barrasso [R-WY] | Sen. Steve Daines [R-MT] | Sen. Bill Cassidy [R-LA] |
| Sen. Tim Scott [R-SC] | Sen. Roger Marshall [R-KS] | Sen. Markwayne Mullin [R-OK] | Sen. Ted Cruz [R-TX] |
| Sen. Kevin Cramer [R-ND] | Sen. Cynthia Lummis [R-WY] | Sen. Jerry Moran [R-KS] | Sen. Tim Sheehy [R-MT] |
| Sen. James Risch [R-ID] | Sen. Dan Sullivan [R-AK] | Sen. John Cornyn [R-TX] |
History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-23 | Senate | Read twice and referred to the Committee on Finance. |
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/119th-congress/senate-bill/224/all-info |
