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Committee approves extension allowing continued transfer of oil-and-gas mill revenue to general fund
AGRICULTURE, FORESTRY & ECONOMIC DEVELOPMENT - SENATE · March 14, 2019
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Summary
Senate Bill 523 extends the date for transferring the first 4.5 mills of oil-and-gas production assessments into general revenue through 2021. Sponsor said the Oil and Gas Commission holds roughly $42 million and that transfers are expected to be about $2.2 million in 2020 and $2.0 million in 2021.
The Senate Agriculture Committee approved Senate Bill 523, which extends an existing authorization to transfer the first 4.5 mills from oil-and-gas production assessments into the state's general…
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