This bill enacts a local impact mitigation tax for oil and gas production.
This bill:
- defines terms;
- imposes a local impact mitigation tax on oil and gas that is produced within the state within a certain period and is saved, sold, or transported;
- provides for certain exemptions from the tax;
- requires quarterly payment of the tax from oil and gas producers;
- requires the State Tax Commission to distribute tax revenue within a certain time to the counties from which the revenue was collected;
- provides for certain tax revenue distribution requirements for a county that receives tax revenue;
- limits the use of tax revenue to certain transportation-related mitigation projects;
- requires the State Tax Commission to collect an administrative charge from the collected tax revenue;
- prohibits counties from imposing certain oil or gas mitigation fees;
- requires any county that receives tax revenue to report to the Legislature regarding the county's use of the tax revenue; and
- makes technical and conforming changes.

Statutes affected:
Introduced: 63I-1-259
Substitute #2: 59-1-306
Enrolled: 59-1-306
Substitute #3: 59-1-306