April 29, 2003, Introduced by Senator EMERSON and referred to the Committee on Finance.
A bill to amend 1929 PA 48, entitled
"An act levying a specific tax to be known as the severance tax
upon all producers engaged in the business of severing oil and
gas from the soil; prescribing the method of collecting the tax;
requiring all producers of such products or purchasers thereof to
make reports; to provide penalties; to provide exemptions and
refunds; to prescribe the disposition of the funds so collected;
and to exempt those paying such specific tax from certain other
taxes,"
by amending section 15 (MCL 205.315).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 15. (1) The
Except as otherwise provided in this
2 section, the severance
tax herein provided for shall be in
3 this act is in lieu of all
other taxes, state or local, ad
4 valorem property taxes or specific taxes levied in lieu of ad
5 valorem property taxes levied upon the oil or gas, the property
6 rights attached thereto
or inherent therein in the oil or
7 gas, or the values
created thereby by the oil or gas; upon all
8 leases or the rights to develop and operate any lands of this
1 state for oil or gas ,
and the values created thereby by
2 those leases or rights; and upon the property rights attached to
3 or inherent therein:
Provided, however, Nothing herein
4 contained shall in
anywise: in the oil or gas.
5 (2) This section does not exempt the machinery, appliances,
6 pipe lines, tanks, and other equipment used in the development or
7 operation of said oil
or gas leases , or used to transmit or
8 transport the said oil
or gas : And provided further, That
9 nothing herein
contained shall in anywise or
relieve any
10 corporation or
association person from the
payment of any
11 franchise or privilege
taxes required by the provisions of the
12 this state. corporation
laws.
13 Enacting section 1. This amendatory act takes effect for
14 tax years beginning on or after January 1, 2004.