This bill would let oil and gas companies pay less in taxes when they restart wells that haven't been used for a while. The state usually charges companies a severance tax when they take oil and gas from the ground. This bill would give companies a break from paying this tax on certain old wells they bring back to life. If companies don't follow the rules, they could face fines.
This policy could strengthen Texas communities by encouraging energy companies to restart inactive wells, potentially creating local jobs and generating revenue that supports public services. The tax incentives may help small energy businesses compete while contributing to the state's energy independence and economic growth.
Introduced
February 21, 2025
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