OIL & GAS CONSERVATION TAX ACT CHANGES

Summary

The bill raises the portion of the oil and gas conservation tax that is deposited into the state’s reclamation fund and sets a phased schedule for higher contributions starting in 2027. The fund may be used to plug and restore abandoned wells, remediate sites, and provide up to $150,000 each year for energy‑education programs. It also lets the legislature tap the fund with a two‑thirds vote to avoid a state budget shortfall.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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