This bill modifies provisions relating to severance of oil, gas, and minerals. This bill: - modifies the severance tax credit for mining exploration by:amending the definitions of exploration activity, eligible claimant, and minerals; andamending the aggregate value of tax credit certificates that may be issued; - authorizes a taxpayer to claim the high cost infrastructure tax credit against severance tax liability instead of income tax liability; - creates a new severance tax credit part and moves existing tax credits to the new part; - addresses federal agency consultation before certain acts related to federal designations and minerals; and - makes technical and conforming changes.

Statutes affected:
Introduced: 40-6-16, 40-6-24, 59-5-101, 59-5-102, 59-7-619, 59-10-1034, 79-6-401, 79-6-602, 79-6-603, 79-6-604