MS SB2955

Amends Mississippi tax code to apply a reduced 1.5% sales tax rate to electricity, power, steam, coal, natural gas, liquefied petroleum gas, and other fuel sold to oil and gas producers for use directly in enhanced oil recovery projects.

Extends the 1.5% industrial rate to naturally occurring and anthropogenic carbon dioxide injected into the earth for use in enhanced oil recovery or permanent sequestration in geological formations.

Maintains the existing 1.5% industrial tax rate that already applied to manufacturers, custom processors, technology intensive enterprises, and public service companies for industrial purposes.

Takes effect July 1, 2012.