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Committee moves bill that simplifies exemption for low‑production oil leases
Summary
The committee voted to report HB24-40 favorably; the bill would remove the requirement that certain low-production oil leases file with the Board of Tax Appeals to obtain a property tax exemption.
House Bill 24-40 would remove an administrative filing requirement that some low-production oil leases must submit to the Board of Tax Appeals to receive an existing property tax exemption. The reviser told the committee the leases are currently exempt and the bill would eliminate the additional BOTA filing requirement for qualifying, low-production leases.
Representative Sawyer moved the bill be passed out favorably; Representative Hochisel seconded and the motion carried on a voice vote. Committee members did not request further amendment or a roll-call vote on the measure during the meeting.
