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7 LONG TITLE
8 General Description:
9 This bill modifies the state severance tax on oil and gas.
10 Highlighted Provisions:
11 This bill:
12 ▸ extends for 10 years the exemption from the state severance tax on oil and gas for
13 oil and gas produced from coal-to-liquids technology, oil shale, or oil sands.
14 Money Appropriated in this Bill:
15 None
16 Other Special Clauses:
17 None
18 Utah Code Sections Affected:
19 AMENDS:
20 59-5-120, as enacted by Laws of Utah 2006, Chapter 346
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22 Be it enacted by the Legislature of the state of Utah:
23 Section 1. Section 59-5-120 is amended to read:
24 59-5-120. Exemption.
25 Beginning on January 1, 2006, and ending on June 30, [
26 required by this chapter is imposed on oil and gas produced, saved, sold, or transported if the
27 oil or gas produced, saved, sold, or transported is derived from:
28 (1) coal-to-liquids technology;
29 (2) oil shale; or
30 (3) [