10/27/2007 02:00 PM House OIL & GAS

HB 2001 - OIL & GAS TAX AMENDMENTS                                                                                            
                                                                                                                                
2:03:46 PM                                                                                                                    
                                                                                                                                
CHAIR OLSON  announced that the  only order of business  would be                                                               
HOUSE BILL  NO. 2001, "An Act  relating to the production  tax on                                                               
oil and  gas and to  conservation surcharges on oil;  relating to                                                               
the issuance of advisory bulletins  and the disclosure of certain                                                               
information  relating  to  the production  tax  and  the  sharing                                                               
between  agencies   of  certain   information  relating   to  the                                                               
production tax  and to oil and  gas or gas only  leases; amending                                                               
the State  Personnel Act to  place in the exempt  service certain                                                               
state  oil  and gas  auditors  and  their immediate  supervisors;                                                               
establishing  an oil  and  gas tax  credit  fund and  authorizing                                                               
payment from that fund; providing  for retroactive application of                                                               
certain  statutory  and  regulatory provisions  relating  to  the                                                               
production  tax on  oil and  gas and  conservation surcharges  on                                                               
oil;  making   conforming  amendments;   and  providing   for  an                                                               
effective date."                                                                                                                
                                                                                                                                
2:04:40 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  SAMUELS moved  to  adopt  the proposed  committee                                                               
substitute  (CS)  for  HB  2001,  Version  25-GH0014\K,  Bullock,                                                               
10/27/07, as  the working  document.   There being  no objection,                                                               
Version K, was before the committee.                                                                                            
                                                                                                                                
CHAIR  OLSON  stated  his  optimism concerning  Version  K.    He                                                               
provided  that   his  intent  is   to  allow  the   committee  an                                                               
opportunity  to  review  the  CS,  and not  to  pass  it  out  of                                                               
committee today.  He called for  any amendments to be drafted and                                                               
made available to his office prior to [the bill's next hearing].                                                                
                                                                                                                                
[HB 2001, Version K, was held over.]