Bill > SB184

This bill, titled "No stb projects in certain counties," proposes to amend the Severance Tax Bonding Act by prohibiting the issuance or sale of severance tax bonds for projects located in municipalities or counties that have enacted ordinances significantly increasing the cost of extraction. Specifically, by October 1st each year, the oil conservation commission, mining commission, and coal surface mining commission will hold hearings to identify local governments whose ordinances would raise the cost of drilling or operating oil, natural gas, carbon dioxide, geothermal, or coal surface mines by 25% or more compared to operating without such ordinances. These commissions must then notify the state board of finance and relevant legislative committees about these identified municipalities and counties. Consequently, the state board of finance will be barred from issuing or selling severance tax bonds to fund any project within the jurisdiction of these identified municipalities or counties, thereby preventing state funding for projects in areas with costly extraction regulations.