Legislature(2009 - 2010)

2010-03-31 Senate Journal

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2010-03-31                     Senate Journal                      Page 2044
SB 305                                                                                                                        
The Finance Committee considered SENATE BILL NO. 305 "An Act                                                                    
relating to the tax on oil and gas production; and providing for an                                                             
effective date" and recommended it be replaced with                                                                             
          CS FOR SENATE BILL NO. 305(FIN) "An Act                                                                               
          relating to that part of the tax on oil and gas                                                                       
          production that increases the rate of tax as the                                                                      
          production tax value of oil or the BTU equivalent                                                                     
          barrel of gas increases above $30, separating the                                                                     
          determination of that rate between oil and gas, and                                                                   
          making that rate distinct between oil and gas; relating                                                               
          to availability of a portion of the money received                                                                    
          from the tax on oil and gas production for                                                                            
          appropriation to the community revenue sharing                                                                        
          fund; relating to the allocation of lease expenditures                                                                
          and adjustments to lease expenditures; and providing                                                                  
          for an effective date."                                                                                               
Signing do pass: Senators Hoffman, Stedman, Cochairs; Senators                                                                  
Thomas, Egan, Olson, Ellis. Signing amend: Senator Huggins.                                                                     
The following fiscal information was published today:                                                                           
 Fiscal Note No. 1, zero, Senate Finance Committee                                                                              
The bill was referred to the Rules Committee.