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Committee reviews recent changes to oil and gas tax allocation flowcharts
Summary
Legislative Council staff presented revised oil and gas gross production and extraction tax allocation flowcharts, noting adjustments to several distribution buckets, a new Hub City debt relief pool and statutory exemptions enacted this session
Adam Mateuk, a Legislative Council fiscal analyst, presented flowcharts that map oil and gas gross production and extraction tax collections and statutory allocations to funds and political subdivisions.
Mateuk said two general‑fund buckets (previously $230 million each) were increased by $20 million apiece to $250 million each, boosting the total state general‑fund share from those buckets to $500 million. He also described reductions to two non‑oil‑producing political‑subdivision buckets (the…
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