PERCENTAGE DEPLETION PERMITTED AFTER TRANSFER OF PROVEN PROPERTY.

SEC. 11521. PERCENTAGE DEPLETION PERMITTED AFTER TRANSFER OF PROVEN PROPERTY. (a) In General.— Subsection (c) of section 613A (relating to limitations on percentage depletion in the case of oil and gas wells) is 104 STAT. 1388–486amended by striking paragraphs (9) and (10) and by redesignating paragraphs (11), (12), and (13) as paragraphs (9), (10), and (11), respectively. (b) Technical Amendment.— Paragraph (11) of section 613A(c), as redesignated by subsection (a), is amended by striking subparagraphs (C) and (D). (c) Effective Date.— The amendments made by this section shall apply to transfers after October 11, 1990.