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Committee backs redirecting excess oil and gas taxes for orphan well plugging
Summary
Senate Bill 339 would allow excess oil and gas production tax revenue to flow to an orphan‑well damage mitigation account; industry, conservation groups, counties and the Board of Oil and Gas Conservation testified in support and the committee passed the bill unanimously in executive action.
Senate Bill 339, sponsored by Senator Dee Zolnikov, would revise the distribution of certain oil and natural gas production taxes so that excess revenues can be deposited into the damage mitigation account used to plug orphaned wells and restore sites.
Zolnikov said the bill imposes no new tax on producers but allows the Board of Oil and Gas Conservation to lower the board’s tax rate…
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