AN ACT relating to revenue and taxation.
     Amend KRS 137.120 to exempt oil produced from a production enhanced project well from severance tax; decrease tax rate from 4.5% to 2.25% for oil produced from a marginal stripper well when oil prices are below $25 per barrel; amend 143A.020 to exempt natural gas processed from a production enhanced project well from severance tax; decrease tax rate from 4.5% to 2.25% for gas processed from a marginal stripper well when gas prices are below $4.17 per million cubic feet; amend KRS 143A.010 to define production enhanced project well; create short title to designate the Act the Kentucky Oil and Gas Well Recovery Act.

     Feb 23-introduced in House
     Feb 24-to Appropriations and Revenue (H)