A bill to amend the Internal Revenue Code of 1954 to allow credit for production of natural gas from certain nonconventional sources only if such natural gas was sold at a lawful price without regard to section 107 and subtitle B of title I of the Natural Gas Policy Act of 1978.
Latest action. Committee on Finance requested executive comment from Office of Management and BudgetThe President's budget and regulatory control center. It writes the President's budget request, apportions appropriated funds, and reviews significant agency rules.Read the full definition (opens a new tab); Treasury Department; Energy Department.
Amends the Internal Revenue Code to specify that the income tax credit for the production of natural gas from nonconventional sources shall apply to natural gas sold during the taxable year only if such gas is sold at a lawful price which is determined without regard to ceiling prices under the Natural Gas Policy Act of 1978.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on May 14, 1981. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on May 18, 1981: Committee on Finance requested executive comment from OMB; Treasury Department; Energy Department.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 97th Congress (1981-82), 473 of the 11,489 bills and joint resolutions introduced became law, about 4.1 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
LLOYD BENTSEN (D-TX) introduced it on May 14, 1981, and 5 members have since signed on as cosponsors.
They come from both major parties: 3 Democrats, 2 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on May 14, 1981, 16603 days ago. The most recent recorded action was 16599 days ago, on May 18, 1981.
Measures do not carry over. Anything the 97th Congress has not finished by January 3, 1983 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers