House Bill 8

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General Assembly: 131

Short Title: Regulates oil and gas operation and valuation [ Show Long Title ]

Long Title: To amend sections 1509.28 and 5713.051 of the Revised Code to revise provisions in the Oil and Gas Law governing unit operation, including requiring unit operation of land for which the Department of Transportation owns the mineral rights, and to specify that the discounted cash flow formula used to value certain producing oil and gas reserves for property tax purposes is the only method for valuing all oil and gas reserves.

Primary Sponsor: Representative Hagan, Representative Ginter

Status: As Passed by the House

Legislation Text : View Current Version

Co-Sponsors	Rep. Thompson, Rep. Maag, Rep. Amstutz, Rep. Antonio, Rep. Baker, Rep. Barnes, Rep. Blessing, Rep. Boose, Rep. Brown, Rep. Buchy, Rep. Burkley, Rep. Celebrezze, Rep. Conditt, Rep. Derickson, Rep. Dever, Rep. Dovilla, Rep. Duffey, Rep. Fedor, Rep. Gerberry, Rep. Green, Rep. Grossman, Rep. Hackett, Rep. Hambley, Rep. Hayes, Rep. Hill, Rep. Johnson, Rep. Koehler, Rep. Kraus, Rep. Landis, Rep. McClain, Rep. McColley, Rep. O'Brien, Rep. O'Brien, Rep. Pelanda, Rep. Retherford, Rep. Ruhl, Rep. Ryan, Rep. Schaffer, Rep. Scherer, Rep. Schuring, Rep. Slaby, Rep. Smith, Rep. Sprague, Rep. Terhar, Rep. Young, Speaker Rosenberger, Rep. Zeltwanger
Subjects	Environment and Natural Resources, Environment and Natural Resources : Oil and Gas, State and Local Government : Local Government, State and Local Government : State Government, Taxation
Committees	Senate Energy and Natural Resources, House Energy and Natural Resources
Effective Date

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