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FL S1188
Bill
AI Summary
- Defines "mature field recovery oil" as barrels from wells beginning production on or after July 1, 2012, in fields discovered before 1981
- Applies tiered severance tax rates for tertiary oil to mature field recovery oil: 1% on oil valued $60 or below, 7% on oil valued above $60 and below $80, and 9% on oil valued $80 and above
- Renumbers existing subsections (4) and (5) of section 211.02, Florida Statutes, as subsections (5) and (6) to accommodate the new definition
- Effective date: July 1, 2011
Legislative Description
Tax on Severance and Production of Oil
Last Action
Died in Communications, Energy, and Public Utilities, companion bill(s) passed, see HB 7087 (Ch.
3/9/2012
Committee Referrals
Communications, Energy, and Public Utilities1/10/2012
Full Bill Text
No bill text available