SB 086 - Giving a Tax Break to Big Oil

Sen. Tom Richmond, (R-Billings), SD 28

Senator Tom RichmondThis bill changes the threshold from which the oil and gas industry can get a tax break. The bill sets the tax break threshold from $30 a barrel to $54 a barrel for oil wells that use enhanced recovery technology. Currently, the price of oil fluctuates around $53. This means that when the price for oil is equal to or less than $54 industries will receive a greater tax break.

MEIC's Position: Oppose | Current bill status: Signed by Governor on March 23rd. | Official legislative site

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