DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of
the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of
the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Stuart Bishop HB No. 474
Abstract: Provide for a severance tax rate of 6.25% for ten years on oil produced from a well
classified as inactive.
Present law levies a severance tax of 12.5% on oil produced in the state. Provides for a 5-year
exemption from such tax for oil produced from wells classified as inactive by the commissioner
of conservation.
Proposed law provides for a reduced rate of 6.25% for ten years on oil produced from wells
classified as inactive.
(Amends R.S. 47:633(7)(c)(iv) and (aa))