Arkansas § 26-58-206 Permit for credit

Arkansas Statutes

§ 26-58-206 — Permit for credit

Arkansas § 26-58-206

Title26

This text of Arkansas § 26-58-206 (Permit for credit) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 26-58-206 (2026).

Text

(a)A producer in this state wishing to obtain the benefits of the provisions of this subchapter shall make application to the Secretary of the Department of Finance and Administration for a permit to obtain credit on severance taxes due on all oil or natural gas produced in saltwater-producing wells of the producer as provided in this subchapter.

(b)The application shall list:

(1)The name and address of the producer;

(2)The number and location of all saltwater-producing wells of the producer; and (3) A certified copy of a certificate from the Arkansas Pollution Control and Ecology Commission and the Oil and Gas Commission certifying that all salt water produced in the production of oil or natural gas in the wells is being disposed of in an approved underground saltwater disposal system

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(a) A producer in this state wishing to obtain the benefits of the provisions of this subchapter shall make application to the Secretary of the Department of Finance and Administration for a permit to obtain credit on severance taxes due on all oil or natural gas produced in saltwater-producing wells of the producer as provided in this subchapter. (b) The application shall list: (1) The name and address of the producer; (2) The number and location of all saltwater-producing wells of the producer; and (3) A certified copy of a certificate from the Arkansas Pollution Control and Ecology Commission and the Oil and Gas Commission certifying that all salt water produced in the production of oil or natural gas in the wells is being disposed of in an approved underground saltwater disposal system. (c) If the secretary determines that the producer has complied with the provisions of this subchapter and the rules established by the secretary, the secretary shall issue a permit to the producer. (d) The permit shall entitle the producer to obtain a severance tax credit on all oil or natural gas produced in saltwater-producing wells in the amount provided in this subchapter.

Legislative History

Amended by Act 2019, No. 910,§ 4263, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 4262, eff. 7/1/2019. Acts 1959, No. 57, § 3; A.S.A. 1947, § 84-2115; Acts 2011, No. 791, § 6.