FORTY-SIXTH LEGISLATURE

SECOND SESSION, 2004

February 6, 2004

Mr. Speaker:

    Your ENERGY AND NATURAL RESOURCES COMMITTEE, to whom has been referred

HOUSE BILL 153

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

     1. On page 1, line 13, strike "DISPOSAL" and insert in lieu thereof "DISPOSITION".

     2. On page 1, line 18, strike "DISPOSAL" and insert in lieu thereof "DISPOSITION".

     3. On page 1, line 20, strike “generates electricity and”.

     4. On page 1, line 23, strike the first occurrence of "disposal" and insert in lieu thereof "disposition".

     5. On page 2, line 4, before the period insert "; provided, however, that in no event shall the total accumulated tax credits claimed by the taxpayer over time exceed fifty percent of the capital cost of equipment for gathering, transporting or treating produced water for disposal in an electric generating facility".

     6. On page 2, line 24, after "taxpayer's" insert "modified combined tax liability, personal income tax liability or".

     7. On page 3, line 1, after "taxpayer's" insert "modified combined tax liability, personal income tax liability or".

     8. On page 3, lines 8 and 9, strike "The state engineer shall not require a permit" and insert in lieu thereof "No permit shall be required from the state engineer".

     9. On page 3, line 9, strike "disposed of".,

and thence referred to the TAXATION AND REVENUE COMMITTEE.                             

                             Respectfully submitted,

James Roger Madalena, Chairman

Adopted     Not Adopted

           (Chief Clerk)                            (Chief Clerk)

Date

The roll call vote was 10 For 1 Against

Yes:      10

No:       Cheney

Excused:  Roberts

Absent:   None

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