Legislature(2003 - 2004)
2004-02-05 House JournalFull Journal pdf
2004-02-05 House Journal Page 2512 HB 441 HOUSE BILL NO. 441 by Representatives Gara, Croft, Guttenberg, and Kerttula, entitled: "An Act amending the oil and gas properties production (severance) tax as it relates to oil to require payment of a tax of at least five percent of the gross value at the point of production after application of the economic limit factor and before any adjustments authorized by this Act, to provide for adjustments to the tax when the prevailing value of the oil either exceeds or falls below specified limits and to limit the effect of the adjustments, to exempt certain kinds of oil from application of the adjustments, to waive the payment of a portion of the tax on oil when its prevailing value falls below specified limits, and to defer the payment of a portion of the tax on oil when its prevailing value falls below specified limits; and providing for an effective date." was read the first time and referred to the House Special Committee on Ways & Means, the House Special Committee on Oil & Gas and the Resources and Finance Committees.