http://jimvanblaricum.tblog.com/post/1969983283
In 1989, the Railroad Commission proposed and the 71st Legislature adopted the first incentive programs to encourage increased production of the state’s oil and gas resources. In 1997, once again, with the support of the 75th Legislature, the Railroad Commission is introducing two new incentives and a revitalization of an older incentive: the incremental production incentive; the incentive to market previously flared or vented casinghead gas; and the two-year inactive well incentive. Each of these offers either a reduction of production severance taxes or an exemption. Additionally, changes were made to the on-going enhanced recovery and high-cost gas incentive programs. The new incentive programs and the changes to existing programs are effective September 1, 1997.Jim Van Blaricum