85th Texas Legislature, Regular Session, House Bill 2277, Chapter 358 Page: 2 of 12
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H.B. No. 2277
1 incurred for the well, whichever occurs first. The amount of tax
2 reduction shall be computed by subtracting from the tax rate
3 imposed by Section 201.052 the product of that tax rate times the
4 ratio of drilling and completion costs incurred for the well to
5 twice the median drilling and completion costs for high-cost wells
6 [as de ed in Subsection (a)(2)(M] spudded or completed during
7 the previous state fiscal year, except that the effective rate of
8 tax may not be reduced below zero.
9 (e) The operator of a proposed or existing gas well,
10 including a gas well that has not been completed, [o+-th-eoperator
11
12 project,] may apply to the commission for
13 certification that the well produces or will produce high-cost gas.
14 The [S--ce-h] application[, if seskingeriicaton hh-coot ga
15 according to Subsection (a)(2)(A)] may be made at any time after
16 the first day of production. The application may be made but is not
17 required to be made concurrently with a request for a determination
18 that gas produced from the well is high-cost natural gas for
19 purposes of the Natural Gas Policy Act of 1978 (15 U.S.C. Section
20 3301 et seq.) [o
21 co-productionp]. The commission may require an applicant to
22 provide the commission with any relevant information required to
23 administer this section. For purposes of this section, a
24 determination that gas is high-cost natural gas for purposes of the,
25 Natural Gas Policy Act of 1978 (15 U.S.C. Section 3301 et seq.)
26 [r difrom&within(comisionApped c-podutinspojct
27 ]2
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Texas. Legislature. House of Representatives. 85th Texas Legislature, Regular Session, House Bill 2277, Chapter 358, legislative document, June 1, 2017; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth1050147/m1/2/: accessed May 21, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.