By Brown S.B. No. 1531
75R6155 CBH-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the imposition and rate of the gas severance tax.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 201.052(a), Tax Code, is amended to read
1-5 as follows:
1-6 (a) The tax imposed by this chapter is at the rate of 6.9
1-7 [7.5] percent of the market value of gas produced and saved in this
1-8 state by the producer.
1-9 SECTION 2. Section 201.101, Tax Code, is amended to read as
1-10 follows:
1-11 Sec. 201.101. MARKET VALUE. The market value of gas is its
1-12 value at the mouth of the well from which it is produced without
1-13 deducting the costs of marketing the gas.
1-14 SECTION 3. (a) This Act takes effect September 1, 1997.
1-15 (b) The change in law made by this Act does not affect taxes
1-16 imposed before the effective date of this Act, and the law in
1-17 effect before that date is continued in effect for purposes of the
1-18 liability for and collection of those taxes.
1-19 SECTION 4. The importance of this legislation and the
1-20 crowded condition of the calendars in both houses create an
1-21 emergency and an imperative public necessity that the
1-22 constitutional rule requiring bills to be read on three several
1-23 days in each house be suspended, and this rule is hereby suspended.