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Senate committee advances five‑year tax exemption for enhanced oil‑recovery projects after panel narrows scope
Summary
Senate committee advanced House Bill 128 to grant five‑year severance‑tax exemptions for incremental production from enhanced oil‑recovery projects, deleting a reference to gas after Department of Revenue concerns; testimony emphasized project economics and expected acceleration of several Wyoming EOR projects.
Representative Tarver presented House Bill 128 as a targeted, five‑year exemption on incremental production from tertiary (enhanced) oil recovery meant to accelerate projects that require large up‑front capital. "It is when the production starts to increase is when this tax goes into effect," Tarver said, and he stressed the exemption applies to incremental production rather than existing output.
An ERI representative summarized historical outcomes from past exemptions…
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