04/14/2016 08:00 AM Senate FINANCE

HOUSE BILL NO. 247                                                                                                            
                                                                                                                                
     "An  Act  relating to  confidential  information  status                                                                   
     and  public   record  status   of  information   in  the                                                                   
     possession  of the  Department of  Revenue; relating  to                                                                   
     interest  applicable  to  delinquent  tax;  relating  to                                                                   
     disclosure  of   oil  and  gas  production   tax  credit                                                                   
     information;  relating to  refunds for  the gas  storage                                                                   
     facility tax  credit, the liquefied natural  gas storage                                                                   
     facility  tax credit,  and  the qualified  in-state  oil                                                                   
     refinery   infrastructure   expenditures   tax   credit;                                                                   
     relating  to the  minimum tax  for certain  oil and  gas                                                                   
     production;  relating  to  the minimum  tax  calculation                                                                   
     for  monthly  installment  payments  of  estimated  tax;                                                                   
     relating  to interest  on  monthly installment  payments                                                                   
     of  estimated  tax;  relating  to  limitations  for  the                                                                   
     application  of tax  credits;  relating to  oil and  gas                                                                   
     production   tax   credits   for  certain   losses   and                                                                   
     expenditures;     relating     to    limitations     for                                                                   
     nontransferable  oil  and  gas  production  tax  credits                                                                   
     based on oil  production and the alternative  tax credit                                                                   
     for  oil and gas  exploration; relating  to purchase  of                                                                   
     tax  credit  certificates  from  the  oil  and  gas  tax                                                                   
     credit fund;  relating to a  minimum for gross  value at                                                                   
     the   point    of   production;   relating    to   lease                                                                   
     expenditures  and tax  credits  for municipal  entities;                                                                   
     adding    a    definition   for    "qualified    capital                                                                   
     expenditure";  adding  a   definition  for  "outstanding                                                                   
     liability   to  the  state";   repealing  oil   and  gas                                                                   
     exploration    incentive    credits;    repealing    the                                                                   
     limitation  on the  application of  credits against  tax                                                                   
     liability   for  lease   expenditures  incurred   before                                                                   
     January  1, 2011;  repealing provisions  related  to the                                                                   
     monthly installment  payments for estimated  tax for oil                                                                   
     and gas produced  before January 1, 2014;  repealing the                                                                   
     oil  and   gas  production  tax  credit   for  qualified                                                                   
     capital  expenditures  and  certain  well  expenditures;                                                                   
     repealing    the   calculation    for   certain    lease                                                                   
     expenditures applicable  before January 1,  2011; making                                                                   
     conforming  amendments; and  providing for an  effective                                                                   
     date."                                                                                                                     
                                                                                                                                
HB 247 was SCHEDULED but not HEARD.