Bill > HB656

This bill generally revises oil and gas tax and distribution laws. The key provisions are: - It amends the production tax rates imposed on oil and natural gas, including maintaining reduced rates for the first 12-18 months of production from certain well types. - It adjusts the distribution of oil and gas production taxes, including allocating a portion to the state's Oil and Gas Natural Resource Distribution Account for distribution to counties and cities/towns. - It changes the privilege and license tax rate assessed by the Board of Oil and Gas Conservation from up to 0.3% to a fixed 0.3% of the market value of oil and gas production. - It specifies how the funds in the Oil and Gas Natural Resource Distribution Account are to be allocated and used. - The bill takes effect July 1, 2019 and applies to oil and gas production occurring on or after that date.

Budget and Finance

http://laws.leg.mt.gov/legprd/LAW0210W$BSIV.ActionQuery?P_BILL_NO1=656&P_BLTP_BILL_TYP_CD=HB&Z_ACTION=Find&P_SESS=20191