Code · BILL · 116th Congress · H.R. 7579 (Introduced in House) — To assist the American energy sector in retaining jobs during challenging economic times. · Sec. 5

Sec. 5. Temporary relief for deductions related to intangible drilling costs

51 words·~1 min read·/bill/116/hr/7579/ih/section-5

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Section 291(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: At the election of the taxpayer, subparagraph

(A)of paragraph

(1)shall not apply with respect to costs paid or incurred after December 31, 2019, and before January 1, 2021. .