HB4268 SFA Ojeda 3-2 #1

Baker 7816

Senator Ojeda moved to amend the bill on page six, section two, line one, before the word “If” by inserting “(a)”;

And,

On page six, section two, after line four, by inserting a new subsection, designated subsection (b), to read as follows:

(b) In order to promote the highest and best use of real property in this state, there is hereby assessed a “highest and best use fee” on the lawful use or development of oil or natural gas and its constituents in an amount equal to two and one-half percent of the gross value of the natural gas or oil produced, as shown by the gross proceeds derived from the sale thereof by the producer. This highest and best use fee is in addition to all taxes imposed by law and the two and one-half percent of the gross value of the natural gas or oil produced is calculated in the same manner as the privilege tax contained in §11-13A-3a of this code. The highest and best use fee shall be deposited into the Public Employees Insurance Agency Financial Stability Fund to stabilize and preserve the future solvency of PEIA, and such amount may not be included in the calculation of any plan year aggregate premium cost-sharing percentages between employers and employees.

Adopted

Rejected