1-1 By: Craddick (Senate Sponsor - Bivins) H.B. No. 2104
1-2 (In the Senate - Received from the House April 26, 1999;
1-3 April 27, 1999, read first time and referred to Committee on
1-4 Natural Resources; May 6, 1999, reported favorably, as amended, by
1-5 the following vote: Yeas 6, Nays 0; May 6, 1999, sent to printer.)
1-6 COMMITTEE AMENDMENT NO. 1 By: Armbrister
1-7 Amend H.B. 2104 as follows:
1-8 (1) On page 1, line 26, strike "2002", and substitute "2010".
1-9 (2) On page 1, line 32, strike "2001", and substitute "2009".
1-10 A BILL TO BE ENTITLED
1-11 AN ACT
1-12 relating to a tax exemption for hydrocarbon production from certain
1-13 inactive oil and gas leases returned to production.
1-14 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-15 SECTION 1. Sections 202.056(c) and (d), Tax Code, are
1-16 amended to read as follows:
1-17 (c) If the commission designates a three-year inactive well
1-18 under this section, it shall issue a certificate designating the
1-19 well as a three-year inactive well as defined by Subsection (a)(3)
1-20 of this section. The commission may not designate a three-year
1-21 inactive well under this section after February 29, 1996. If the
1-22 commission designates a two-year inactive well under this section,
1-23 it shall issue a certificate designating the well as a two-year
1-24 inactive well as defined by Subsection (a)(4) of this section. The
1-25 commission may not designate a two-year inactive well under this
1-26 section after February 28, 2002 [29, 2000].
1-27 (d) An application for three-year inactive well
1-28 certification shall be made during the period of September 1, 1993,
1-29 through August 31, 1995, to qualify for the tax exemption under
1-30 this section. An application for two-year inactive well
1-31 certification shall be made during the period September 1, 1997,
1-32 through August 31, 2001 [1999], to qualify for the tax exemption
1-33 under this section. Hydrocarbons sold after the date of
1-34 certification are eligible for the tax exemption.
1-35 SECTION 2. The importance of this legislation and the
1-36 crowded condition of the calendars in both houses create an
1-37 emergency and an imperative public necessity that the
1-38 constitutional rule requiring bills to be read on three several
1-39 days in each house be suspended, and this rule is hereby suspended,
1-40 and that this Act take effect and be in force from and after its
1-41 passage, and it is so enacted.
1-42 * * * * *