HB1427 — AN ACT to create and enact a new subsection to section 57-51.1-03 of the North Dakota Century Code, relating to an oil extraction tax rate reduction on production from a restimulation well; to amend and reenact sections 57-51.1-01 and 57-51.1-03.1 of the North Dakota Century Code, relating to the definition and certification of a restimulation well; and to provide an effective date.

HB1427 — AN ACT to create and enact a new subsection to section 57-51.1-03 of the North Dakota Century Code, relating to an oil extraction tax rate reduction on production from a restimulation well; to amend and reenact sections 57-51.1-01 and 57-51.1-03.1 of the North Dakota Century Code, relating to the definition and certification of a restimulation well; and to provide an effective date. · Informed CitizenryHB1427 creates a new tax exemption for incremental oil production from restimulation wells. To qualify, a well must be certified by the industrial commission as a qualified well after August 1, 202…Open in Informed Citizenry