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MS HB841
Bill
Status
3/7/2013
Primary Sponsor
Jeffrey Smith
Click for details
AI Summary
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Reduces the sales tax rate from 7% to 1.5% on electricity, current, power, steam, coal, natural gas, liquefied petroleum gas, and other fuel sold to oil and gas producers for use directly in enhanced oil recovery using carbon dioxide.
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Reduces the sales tax rate from 7% to 1.5% on the same energy sources sold to oil and gas producers for use in permanent sequestration of carbon dioxide in a geological formation.
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Applies the reduced 1.5% tax rate to naturally occurring and anthropogenic carbon dioxide lawfully injected into the earth for enhanced oil recovery projects (including cycling, repressuring, or lifting of oil) or permanent geological sequestration.
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Becomes effective July 1, 2013.
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Does not affect any tax claims, assessments, or actions for taxes accrued before the effective date.
Legislative Description
Sales tax; reduce rate on sales of power and fuel to a producer of oil and gas for use in oil recovery or sequestration of carbon dioxide.
Last Action
Approved by Governor
3/7/2013