Qualified Natural Gas from Geopressured Brine [Internal Revenue] Law and Legal Definition

Pursuant to 26 CFR 1.613A-7 (e) [Title 26 Internal Revenue; Chapter I Internal Revenue Service, Department of the Treasury; Subchapter A Income Tax; Part 1 Income Taxes; Normal Taxes and Surtaxes; Natural Resources; Deductions], the term Qualified Natural Gas from Geopressured Brine means “any natural gas which is determined in accordance with section 503 of the Natural Gas Policy Act of 1978 to be produced from geopressured brine and which is produced from any well the drilling of which began after September 30, 1978, and before January 1, 1984.”