HB 2190 Summary

• Corporation Commission shall require commercial injection or disposal wells to be metered to record fluid volume and operators must maintain logs for at least five (5) years including amount, source location, and chain of custody evidence.

• Levies a tax of five cents ($0.05) per barrel on liquid deleterious substances (including saltwater, oil field brine, waste oil, and mud) disposed of in commercial injection or disposal wells, with quarterly remittance required to Oklahoma Tax Commission.

• Creates the Injection Well Indemnity Fund within State Treasury, funded by tax collections from the disposal tax imposed in the bill.

• Establishes a tax credit of five cents ($0.05) per barrel against income tax for tax years beginning after December 31, 2017, for recycled liquid deleterious substances that would otherwise have been disposed of by injection, limited to taxpayer's total tax liability.

• Effective January 1, 2018.