Legislature(2005 - 2006)
2005-01-12 House JournalFull Journal pdf
2005-01-12 House Journal Page 0053 HB 63 HOUSE BILL NO. 63 by Representatives Gara, Kerttula, Croft, and Guttenberg, entitled: "An Act relating to the oil and gas properties production (severance) tax as it applies to oil; establishing a minimum rate of tax for certain fields of five percent; providing for an adjustment to increase the tax collected when oil prices exceed $20 per barrel and to reduce the tax collected when oil prices fall below $16 per barrel; and providing for relief from the tax when the price per barrel is low or when the taxpayer demonstrates that a reduction in the tax is necessary to establish or reestablish production from an oil field or pool that would not otherwise be economically feasible." 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.