Sections

Weather Forecast

Close

Coston stepping down as DSU president on Aug. 15

Advertisement

ND House rejects oil tax restructuring measure

Email Sign up for Breaking News Alerts
Energy Dickinson,North Dakota 58602 http://www.thedickinsonpress.com/sites/all/themes/thedickinsonpress_theme/images/social_default_image.png
The Dickinson Press
(701) 225-4205 customer support
ND House rejects oil tax restructuring measure
Dickinson North Dakota 1815 1st Street West 58602

BISMARCK -- North Dakota's House has killed a bill aimed at restructuring oil taxes.

Representatives defeated the bill 71-21 on Wednesday.

Advertisement
Advertisement

The measure has been one of the most contentious of the legislative session. The bill would have lowered tax rates for oil companies in exchange for closing the so-called stripper well loophole that the state Tax Department says is costing the state about $50 million in revenue annually. And it would have given the Three Affiliated Tribes a greater share of the taxes collected from reservation oil production.

Democrats were especially critical of the measure, saying it would have cost the state millions of dollars in lost revenue.

Attempts to close the stripper well exemption have failed in the past three legislative sessions.

Advertisement
Advertisement
Advertisement
randomness