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.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This 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., changes federal law or congressional policy affecting energy producers, utilities, and energy consumers. The main policy domain is Energy, Finance.
Who Benefits and How
energy producers, utilities, and energy consumers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, energy producers, utilities, and energy consumers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section HD2DDEE559D8C4866AAF50A7A1553E4D1: 1. Short title This Act may be cited as the Promoting Domestic Energy Production Act.
- Section H8129578CFBE24031ADEBBBC6F8CB437A: 2. Intangible drilling and development costs taken into account for purposes of computing adjusted financial statement income Section 56A(c)(13) of the...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This 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., changes federal law or congressional policy affecting energy producers, utilities, and energy consumers.
Key Policy Areas
Energy, Finance
Primary Purpose
This 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., changes federal law or congressional policy affecting energy producers, utilities, and energy consumers.
Policy Domains
Whole bill
Identified Gains
- energy producers, utilities, and energy consumers
Identified Costs
- federal implementing agencies
- energy producers, utilities, and energy consumers
Sponsors
Legislative Progress
IntroducedMr. Carey (for himself, Mr. Vicente Gonzalez of Texas, Mr. …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology