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1999 SESSION

• | print version

HB 2627 Orphaned gas or oil wells.

Introduced by: Terry G. Kilgore | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Orphaned wells. Allows oil and gas operators to obtain permits for investigating the redevelopment of an orphaned well. When the investigation is complete, the operator would be required to redevelop or plug the well in accordance with existing law. The permit would be exempt from any permit fees, and, if the well produces gas or oil, the gross receipts from such production would be exempt from local severance taxes. The bill also provides an income tax credit for investigation, redevelopment and plugging of orphaned wells, equal to the costs incurred by a taxpayer engaging in such activities.

FULL TEXT

• 01/21/99  House: Presented & ordered printed 990806322  pdf

HISTORY

• 01/21/99  House: Presented & ordered printed 990806322
• 01/21/99  House: Referred to Committee on Mining and Mineral Resources
• 01/27/99  House: Stricken from docket by M. & M. R. (15-Y 0-N)