SENATE BILL 582 |
SENATE AUTHOR: Ratliff et al. |
EFFECTIVE: 09-01-97 |
HOUSE SPONSOR: Holzheauser |
The Tax Code contains an enhanced oil recovery incentive program in the form of a 50 percent credit on oil severance taxes. The deadline for application is January 1, 1998. Senate Bill 582 amends the code to extend the deadline for a new enhanced oil recovery project or expansion of an existing enhanced oil recovery project, other than a coproduction project, to January 1, 2008.