Peacock SR No. 189
Creates the Withholding Study Task Force to study the deduction withholding of certain oil
and gas proceeds of out-of-state individuals and entities.
Provides that the task force be comprised of the following:
(1) The chairman of the Senate Committee on Revenue and Fiscal Affairs, or his designee.
(2) One member of the Senate appointed by the Senate president.
(3) The secretary of the Department of Revenue, or his designee.
(4) The secretary of the Department of Natural Resources, or his designee.
(5) The chairman of the Louisiana State Mineral and Energy Board, or his designee.
(6) One member with experience in accounting in the oil and gas field appointed by the
governor.
(7) The chairman of the Senate Committee on Transportation, Highways, and Public Works,
or his designee.
Requests the Department of Revenue, in conjunction with the Louisiana Mineral and Energy
Board, and any other necessary association to compile information on which types of taxes
are levied, the amounts of collections from each, and the percentage of total collections of
each in energy-producing states and how taxes are collected in those states from out-of-state
taxpayers relative to any amount derived from oil and gas production from any well located
in the state and payable as a mineral lease, royalty interest, oil payment, overriding royalty
interest, production payment interest, working interest, or any other obligation expressed as
a right to a specified interest in the cash proceeds received from the sale of oil and gas
production or in the cash value of that production.
Requests the department to provide a cost benefit analysis report to the task force.
Provides that the task force hold its organizational meeting no later than August 30, 2013,
to elect a chairman and vice chairman from among its membership.
Requires report to members of the Senate and to the governor no later than January 15, 2014.
Provides that the report be direct and concise and detail filing and payment requirements and
necessary recommendations on tax policies to benefit the state and to insure the state receives
its fair share of revenues from taxable properties located in the state.