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AN ACT
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relating to calculation of daily production for purposes of the oil |
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and gas production tax credits for low-producing wells and leases. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 201.059(a)(3), Tax Code, is amended to |
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read as follows: |
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(3) "Qualifying low-producing well" means a gas well |
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whose production during a three-month period is no more than 90 mcf |
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per day, excluding gas flared pursuant to the rules of the |
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commission. For purposes of qualifying a gas well, production per |
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well per day is determined by computing the average daily |
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production from the well using the greater of the monthly |
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production from the well as reported in the monthly well production |
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reports [report] made to the commission and the monthly production |
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from the well as reported in the producer's reports made to the |
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comptroller under Section 201.203, including any amendments to |
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those reports. |
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SECTION 2. Section 202.058(b), Tax Code, is amended to read |
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as follows: |
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(b) For purposes of qualifying a lease, production per well |
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per day is determined by computing the average daily per well |
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production from the lease using the greater of the monthly |
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production from the well as reported in the monthly lease |
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production reports [report] made to the commission and the monthly |
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production from the well as reported in the producer's reports made |
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to the comptroller under Section 202.201, including any amendments |
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to those reports. For purposes of qualifying a lease, production |
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per well per day is measured by dividing the sum of lease production |
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during the three-month period by the sum of the number of well-days, |
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where a well-day is one well producing for one day. The operator of |
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a lease that is eligible for a credit under this section only on the |
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basis of Subsection (a)(2)(B) must pay to the comptroller a filing |
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fee of $100 before the comptroller may authorize the credit. |
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SECTION 3. The change in law made by this Act does not |
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affect tax liability accruing before the effective date of this |
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Act. That liability continues in effect as if this Act had not been |
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enacted, and the former law is continued in effect for the |
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collection of taxes due and for civil and criminal enforcement of |
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the liability for those taxes. |
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SECTION 4. This Act takes effect September 1, 2019. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 925 passed the Senate on |
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April 4, 2019, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 925 passed the House on |
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May 3, 2019, by the following vote: Yeas 140, Nays 0, two present |
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not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |