Texas Dems Seek To End State's Fracking Tax Breaks

Law360, Dallas (November 13, 2012, 7:25 PM EST) -- Two Texas Democrats on Monday filed legislation that would reduce or end the tax breaks the state has given to hydraulic fracturing and other so-called high-cost natural gas-drilling techniques, renewing an effort to collect more money from gas producers that fizzled in the 2011 legislative session.

In HB 55, Rep. Lon Burnam, D-Fort Worth, proposes letting the exemption expire completely in September 2013, and in SB 71, Sen. Rodney Ellis, D-Houston, would limit the tax break so it’s available only when gas is selling for an...
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