N.D. bill would extend natural gas tax exemption

A bill under review by the North Dakota House Taxation and Finance Committee could help reduce the amount of natural gas wasted from oil production in the state, said Lynn Helms, director of the state's Department of Mineral Resources. Under the legislation, oil companies that are not required to pay taxes or royalties for burning off natural gas for a year would be entitled to two more years of tax exemption if they collect at least 75% of the gas at well sites. State Rep. Todd Porter, one of the sponsors of the bill, said that the exemption aims to "incentivize the industry" in the state.

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