Revenue Committee Sponsors Bills

img_1140The Joint Interim Revenue Committee met on Friday, November 18th and agreed to sponsor several bills in the legislative session.

The bills included one to hold Notice of Valuation Changes under $10,000 and only process them once a year, waiving interest on any amounts due.  A second bill would fund a study to change the method minerals are valued to one using the “discounted cash flow.”

A third bill shifts the responsibility for reporting oil and gas production from the “taxpayer” or well owner to the “operator” of the well, defined as the person responsible for the day-to-day operation of the property.

The working drafts of the bills can be read here.

 

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