TEMPORARY SUSPENSION OF TAXABLE INCOME LIMIT ON PERCENTAGE DEPLETION FOR MARGINAL PRODUCTION.

SEC. 972. TEMPORARY SUSPENSION OF TAXABLE INCOME LIMIT ON PERCENTAGE DEPLETION FOR MARGINAL PRODUCTION. (a) In General.—Paragraph (6) of section 613A(c) is amended by adding at the end the following new subparagraph:111 STAT. 898 “(H) Temporary suspension of taxable income limit with respect to marginal production.—The second sentence of subsection (a) of section 613 shall not apply to so much of the allowance for depletion as is determined under subparagraph (A) for any taxable year beginning after December 31, 1997, and before January 1, 2000.”. (b) Effective Date.—The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 1997.