2017 SB 375 Royalty Rates on State Trust Lands

CVNM Position:

Support

Year:

2017

Sponsors:

Howie C. Morales

Topics:

Effective Government

Legislative Info:

SB 375 on nmlegis.gov »

Description

This bill would have granted, but would not have mandated, the commissioner of public lands the authority to raise the royalty rate and its point of application (for all oil and gas extracted, not just that saved) for oil and gas extracted from public lands to enhance revenue for beneficiaries. It also gave the authority to require reporting of gas venting and flaring.

Outcome

SB 375 died in the Senate Corporations and Transportation Committee.