summary
Introduced
01/25/2021
01/25/2021
In Committee
Crossed Over
Passed
Dead
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; TEMPORARILY EXEMPTING A QUALIFIED ENHANCED RECOVERY PROJECT THAT USES CAPTURED CARBON DIOXIDE TO DISPLACE OIL FROM THE TAX ON CARBON DIOXIDE FOR PRODUCTS THAT ARE SEVERED AND SOLD; DEFINING "POSTED PRICE" AND "CAPTURED CARBON DIOXIDE" IN THE OIL AND GAS SEVERANCE TAX ACT.
AI Summary
This bill temporarily exempts a qualified enhanced recovery project that uses captured carbon dioxide to displace oil from the tax on carbon dioxide for products that are severed and sold. It also defines "posted price" and "captured carbon dioxide" in the Oil and Gas Severance Tax Act. The bill aims to encourage the use of carbon capture technology in oil and gas production by providing a tax incentive.
Committee Categories
Agriculture and Natural Resources
Sponsors (11)
Phelps Anderson (I)*,
Cathrynn Brown (R)*,
Larry Scott (R)*,
James Townsend (R)*,
Randal Crowder (R),
Candy Ezzell (R),
T. Lane (R),
Rod Montoya (R),
Greg Nibert (R),
Randy Pettigrew (R),
James Strickler (R),
Last Action
House Energy, Environment and Natural Resources Committee (08:30 2/4/2021 Room Zoom) (on 02/04/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=181&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/house/HB0181.pdf |
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