Code · BILL · 114th Congress · S. 1041 (Introduced in Senate) — To eliminate certain subsidies for fossil-fuel production. · Sec. 16

Sec. 16. Uniform seven-year amortization for geological and geophysical expenditures

56 words·~1 min read·/bill/114/s/1041/is/section-16

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Section 167(h) of the Internal Revenue Code of 1986 is amended— by striking 24-month period each place it appears in paragraphs

(1)and

(4)and inserting 7-year period , and by striking paragraph (5). The amendments made by this section shall apply to amounts paid or incurred after the date of the enactment of this Act.