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Amend CSSB 1 by adding the following appropriately numbered ARTICLE to read as follows and renumbering subsequent ARTICLES accordingly:
ARTICLE ____. High-Cost Natural Gas Tax Exemption.
(a) Section 201.057, Tax Code, is amended by adding Subsection (e-1) to read as follows:
(e-1) Each month, the commission shall certify the average closing price of gas during the previous three months based on various price indices available to producers. The commission shall publish certifications under this subsection in the Texas Register. Notwithstanding any other provision of this section, the commission may not certify that gas is high-cost gas for purposes of this section during any month that the average closing price of gas certified by the commission for the previous three-month period is more than $6 per MMBtu.
(b) The Railroad Commission of Texas shall publish the initial certification required by Section 201.057(e-1), Tax Code, as added by this section, not later than September 30, 2011.
(c) Section 201.057(e-1), Tax Code, as added by this section, applies to an application for certification that a well produces or will produce high-cost gas that is pending on or after October 1, 2011.