Bill Text: TX HB3785 | 2011-2012 | 82nd Legislature | Introduced

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Bill Title: Relating to a tax exemption for inactive oil and gas wells.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2011-03-23 - Referred to Ways & Means [HB3785 Detail]

Download: Texas-2011-HB3785-Introduced.html

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By: Callegari H.B. No. 3785

A BILL TO BE ENTITLED
AN ACT
relating to a tax exemption for inactive oil and gas wells.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 202.056, Tax Code, is amended to read as
follows:
(c) If the commission designates a three-year inactive well
under this section, it shall issue a certificate designating the
well as a three-year inactive well as defined by Subsection (a)(3)
of this section. The commission may not designate a three-year
inactive well under this section after February 29, 1996. If the
commission designates a two-year inactive well under this section,
it shall issue a certificate designating the well as a two-year
inactive well as defined by Subsection (a)(4) of this section. The
commission may not designate a two-year inactive well under this
section after February 28, 2016 [2010].
(d) An application for three-year inactive well
certification shall be made during the period of September 1, 1993,
through August 31, 1995, to qualify for the tax exemption under this
section. An application for two-year inactive well certification
shall be made during the period September 1, 2011 [1997], through
August 31, 2015 [2009], to qualify for the tax exemption under this
section. Hydrocarbons sold after the date of certification are
eligible for the tax exemption.
SECTION 2. This Act takes effect September 1, 2011.