DIGEST OF INTRODUCED BILL
Repeal of petroleum severance tax. Repeals the petroleum severance tax with respect to petroleum severed from the land after June 30, 2013. Moves civil and criminal penalties concerning the petroleum severance tax to the criminal law. Provides that the penalty provisions apply to taxes imposed on petroleum severed from the land before July 1, 2013. Provides that the penalty provisions expire July 1, 2017. Requires the treasurer of state to transfer the balance of the oil and gas fund to the oil and gas environmental fund (OGEF). Provides that certain permit fees are paid into the OGEF rather than the oil and gas fund. Provides that research and administrative expenses may be paid from the OGEF. Removes the $1,500,000 cap on the balance of the OGEF. Annually appropriates money in the OGEF.