North Dakota’s House rejected a bill May 1 aimed at closing an exemption for oil companies in exchange for lower tax rates. The House also approved legislation that tripled funding to address industry impacts in oil-producing counties.
And on April 29 a bill offering tax breaks to E&P operators as an incentive to cut flaring of associated gas from oil wells was signed by Gov. Jack Dalrymple.
The tax measure, already passed by the Senate, would have lowered taxes for companies in exchange for closing the so-called stripper well loophole and have given the Three Affiliated Tribes a greater share of the taxes collected from reservation oil production. The measure was defeated 71-21.
House Bill 1358, scheduled to be heard by the Senate May 2, appropriates nearly $1.143 billion to counties for such things as fixing roads and providing emergency medical services.
Senate Majority Leader Rich Wardner, R-Dickinson, said some of the tax bill’s components, such as stripper wells, could appear in amendments on pending measures before the Legislature adjourns.
—Petroleum News Bakken (AP contributed to this report)
