1     
SEVERANCE TAX EXEMPTION EXTENSION

2     
2016 GENERAL SESSION

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STATE OF UTAH

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Chief Sponsor: Kevin T. Van Tassell

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House Sponsor: Scott H. Chew

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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
21     

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, [2016] 2026, no severance tax
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) [tar] oil sands.






Legislative Review Note
Office of Legislative Research and General Counsel