HB 1358 Summary

• Creates definitions for "hub city" (population 12,500+ with >1% mining employment) and "hub city school district" for oil and gas tax allocation purposes, effective for taxable events between July 1, 2013 and July 1, 2015.

• Amends gross production tax allocation to direct 1% of oil tax and 1/5 of gas tax to hub cities ($375,000 per fiscal year) and hub city school districts ($125,000 per percentage point of mining employment), with remaining revenues capped at $240 million per biennium for impact grants.

• Appropriates $160 million to Department of Transportation for county road and bridge rehabilitation in oil-producing counties receiving $5+ million in allocations, and $120 million for counties receiving less than $5 million.

• Appropriates $8.76 million to State Treasurer for township distribution ($15,000 annually per organized township) and $239.3 million to Board of University and School Lands for impact grants to airports, higher education, emergency services, fire districts, and hub cities.

• Requires annual reports to budget section from hub cities and county commissioners on use of allocations and infrastructure fund expenditures.