HB4090 H ENG AM #1

Akers 3254

The Committee on Energy moves to amend the bill on page 2, section 3a, at the end of line 24, following the word “producer” and the semicolon by striking the word “and”;

And,

On page 2, section 3a, line 33, after the word “producer by striking the period and inserting in lieu thereof a semicolon and the word “and”;

And,

On page 2, section 3a, after line 33, by inserting a new subdivision (3) which reads as follows:

“(3) For all natural gas produced from wells utilizing horizontal drilling techniques targeting shale formations, which produced an average between 5,000 cubic feet of natural gas per day and 60,000 cubic feet of natural gas per day during the calendar year immediately preceding the beginning date of a given taxable year, and for oil produced from wells utilizing horizontal drilling techniques targeting shale formations, which produced an average between one-half barrel per day and 10 barrels per day, during the calendar year immediately preceding the beginning date of a given taxable year, the rate of tax is five percent of the gross value of the natural gas or oil produced as shown by the gross proceeds derived from the sale thereof by the producer.”

Adopted

Rejected