81R10195 BEF-F
By: Gonzalez Toureilles H.B. No. 4063
A BILL TO BE ENTITLED
AN ACT
relating to the periods for applying for and receiving designation
of a well as a two-year inactive well for purposes of the oil and gas
severance tax exemption.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 202.056(c) and (d), Tax Code, are
amended to read as follows:
(c) If the commission designates a three-year inactive well
under this section, it shall issue a certificate designating the
well as a three-year inactive well as defined by Subsection (a)(3)
of this section. The commission may not designate a three-year
inactive well under this section after February 29, 1996. If the
commission designates a two-year inactive well under this section,
it shall issue a certificate designating the well as a two-year
inactive well as defined by Subsection (a)(4) of this section. The
commission may not designate a two-year inactive well under this
section after February 28, 2020 [2010].
(d) An application for three-year inactive well
certification shall be made during the period of September 1, 1993,
through August 31, 1995, to qualify for the tax exemption under this
section. An application for two-year inactive well certification
shall be made during the period September 1, 1997, through August
31, 2019 [2009], to qualify for the tax exemption under this
section. Hydrocarbons sold after the date of certification are
eligible for the tax exemption.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect on the 91st day after the last day of the
legislative session.