Oil & gas severance taxes; extend repealers on lower rate for production from horizontally drilled wells.
Oil and gas severance taxes; extend repealer on lower rate for production from horizontally drilled wells.
Mineral interest; revise procedure for payment of taxes.
Suspends the severance tax exemption for the horizontal drilling of oil and natural gas from April 1, 2016, through December 31, 2020
Modifies exemptions, suspensions, and special rates from July 1, 2015 to June 30, 2017 (EN NO IMPACT GF RV See Note)
Provides with respect to the rate and base for the state tax on certain natural resources severed from the soil or water (EG -$89,000,000 GF RV See Note)
Provides relative to horizontal well exemption (Item #9) (EN NO IMPACT See Note)
Changes the amount and duration of the severance tax exemption for certain horizontally drilled wells (OR SEE FISC NOTE GF RV)