The bill aims to revise the existing stripper oil tax laws by amending specific sections of the Montana Code Annotated (MCA) and making adjustments to the tax rates applicable to stripper oil production. It specifically amends Sections 15-36-303 and 15-36-304 of the MCA, as well as Sections 12 and 13 of Chapter 559 from the Laws of 2021. Additionally, the bill repeals several sections (3, 4, 5, 8, 9, 10, and 14) from the same chapter, indicating a significant overhaul of the previous legislation regarding stripper oil taxation.

The revisions are intended to streamline the tax framework for stripper oil production, potentially impacting revenue generation and compliance for producers in the state. The bill also establishes effective dates for the changes, ensuring that the new provisions are implemented in a timely manner. Overall, this legislative action reflects an effort to update and clarify the tax structure surrounding stripper oil in Montana.

Statutes affected:
HB0485_1.pdf: 15-36-303, 15-36-304
HB0485_2.pdf: 15-36-303, 15-36-304
Amended: 15-36-303, 15-36-304
Introduced: 15-36-303, 15-36-304