| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to an exemption from the severance tax for gas and oil |
|
|
incidentally produced in the production of geothermal energy. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subchapter B, Chapter 201, Tax Code, is amended |
|
|
by adding Section 201.060 to read as follows: |
|
|
Sec. 201.060. EXEMPTION FOR GAS INCIDENTALLY PRODUCED IN |
|
|
PRODUCTION OF GEOTHERMAL ENERGY. Gas incidentally produced in the |
|
|
production of geothermal energy is exempt from the severance tax |
|
|
imposed by this chapter. |
|
|
SECTION 2. Subchapter B, Chapter 202, Tax Code, is amended |
|
|
by adding Section 202.062 to read as follows: |
|
|
Sec. 202.062. EXEMPTION FOR OIL INCIDENTALLY PRODUCED IN |
|
|
PRODUCTION OF GEOTHERMAL ENERGY. Oil incidentally produced in the |
|
|
production of geothermal energy is exempt from the severance tax |
|
|
imposed by this chapter. |
|
|
SECTION 3. Sections 201.060 and 202.062, Tax Code, as added |
|
|
by this Act, apply only to gas or oil produced on or after the |
|
|
effective date of this Act. Gas or oil produced before the |
|
|
effective date of this Act is governed by the law in effect when the |
|
|
gas or oil was produced, and the former law is continued in effect |
|
|
for that purpose. |
|
|
SECTION 4. This Act takes effect September 1, 2009. |