Sec. 212. Termination of deduction for intangible drilling and development costs
79 words·~1 min read·
/bill/113/hr/243/ih/section-212·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 263(c) is amended by adding at the end the following new sentence: This subsection shall not apply to any taxable year beginning after the date of the enactment of this sentence. . Paragraphs
(2)and
(3)of section 291(b) are each amended by striking section 263(c), 616(a), and inserting section 616(a) . The amendments made by this section shall apply to costs paid or incurred in taxable years beginning after the date of the enactment of this Act.