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A BILL TO BE ENTITLED
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AN ACT
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relating to an exemption from oil and gas severance taxes for oil |
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and gas produced in association with the production of geothermal |
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energy. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 201, Tax Code, is amended |
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by adding Section 201.060 to read as follows: |
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Sec. 201.060. EXEMPTION OF GAS INCIDENTALLY PRODUCED IN |
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ASSOCIATION WITH THE PRODUCTION OF GEOTHERMAL ENERGY. Gas |
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incidentally produced in association with the production of |
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geothermal energy is not subject to the tax imposed by this chapter. |
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SECTION 2. Subchapter B, Chapter 202, Tax Code, is amended |
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by adding Section 202.063 to read as follows: |
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Sec. 202.063. EXEMPTION OF OIL INCIDENTALLY PRODUCED IN |
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ASSOCIATION WITH THE PRODUCTION OF GEOTHERMAL ENERGY. Oil |
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incidentally produced in association with the production of |
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geothermal energy is not subject to the tax imposed by this chapter. |
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SECTION 3. This Act takes effect September 1, 2009. |