The bill introduces a severance tax exemption for tertiary oil and gas production in Wyoming, specifically for projects certified by the Wyoming Oil and Gas Conservation Commission that commence between July 1, 2026, and July 1, 2031. Under the new provisions, this exemption will last for five years from the date of first tertiary production, allowing operators to avoid severance taxes imposed by existing law.

Additionally, the bill mandates that the Oil and Gas Conservation Commission and the Department of Revenue report annually, starting November 1, 2026, on the qualifying tertiary production. These reports will detail the amount of production, the number of operators and wells involved, the severance taxes paid, the taxes exempted under this new provision, and any ad valorem and sales taxes associated with the production. The act is set to take effect on July 1, 2026.

Statutes affected:
Introduced: 39-14-205