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MS SB2820
Bill
Status
2/27/2013
Primary Sponsor
Joey Fillingane
Click for details
AI Summary
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Amends Mississippi Code Section 27-65-19 to apply a reduced sales tax rate of 1-1/2% (instead of the standard 7%) 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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Extends the 1-1/2% industrial tax rate to oil and gas producers using these energy sources for permanent sequestration of carbon dioxide in a geological formation.
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Applies the same reduced 1-1/2% rate to the sale of naturally occurring and anthropogenic carbon dioxide lawfully injected into the earth for enhanced oil recovery projects or permanent geological sequestration.
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Takes effect July 1, 2013.
Legislative Description
Sales tax; reduce rate on sale of power and fuel to a producer of oil and gas for use in oil recovery or sequestration of carbon dioxide.
Last Action
Died In Committee
2/27/2013