2006-02-14                     Senate Journal                      Page 2169
SB 292                                                                                            
SENATE BILL NO. 292 BY SENATORS FRENCH, Ellis, Elton,                                               
Kookesh, entitled:                                                                                  
                                                                                                    
          "An Act levying a net profits tax on the production of                                    
          oil, authorizing a tax credit for qualifying exploration                                  
          costs associated with the exploration for and                                             
          development of oil and for certain related qualifying                                     
          losses, and repealing the currently levied properties                                     
          production (severance) tax as it applies to oil; and                                      
          providing for an effective date."                                                         
                                                                                                    
was read the first time and referred to the Resources and Finance                                   
Committees.