1997 Regular Session
To: Oil, Gas and Other Minerals
By: Representative Bowles
House Bill 268
AN ACT TO AMEND SECTION 53-1-73, MISSISSIPPI CODE OF 1972, TO REVISE THE TAX TO BE IMPOSED UPON THE PRODUCTION OF OIL AND GAS; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 53-1-73, Mississippi Code of 1972, is amended as follows:
53-1-73. For the purposes of paying the costs and expenses incurred in connection with the administration and enforcement of the oil and gas conservation laws of the State of Mississippi and of the rules, regulations and orders of the State Oil and Gas Board, there is hereby levied and assessed against each barrel of oil produced and saved in the State of Mississippi a charge not to exceed sixty (60) mills on each barrel of such oil, and against each one thousand (1,000) cubic feet of gas produced, saved and sold a charge not to exceed six (6) mills on each one thousand (1,000) cubic feet of gas. The State Oil and Gas Board shall fix the amount of such charge in the first instances, and may, from time to time, change, reduce or increase the amount thereof, as in its judgment the charges against the fund may require, but the amounts fixed by said board shall not exceed the limits hereinabove prescribed; and it shall be the duty of the board to make collection of such assessments. All monies so collected shall be used exclusively to pay the expenses and other costs in connection with the functioning of the State Oil and Gas Board and the administration of the oil and gas conservation laws of the State of Mississippi now in force or hereafter enacted and the rules, regulations and orders of said board.
SECTION 2. This act shall take effect and be in force from and after July 1, 1997.