One of the big issues the Legislature will have to resolve is the oil tax distribution formula.
Currently, 75 percent of the oil production tax goes to the state, and the other 25 percent goes back to the oil patch. Western legislators and Governor Dalrymple had proposed that 60 percent of those tax collections go back to the patch, and 40 percent to state coffers. The House made it a 30-70 split – with the 70 percent going to the state.
Senate Majority Leader Rich Wardner (R-Dickinson) has been pushing for the 60-40 concept.
"Currently, we're not ready to make a decision on the percentage," said Wardner. "There's no question this new revenue forecast does affect what we would do from the Senate side, as far as that formula bill."
A hearing will be held March 30th. And Wardner says that will set the stage for negotiations with the House.
"And if we can get some agreement from the House on the amendments, we'll get that thing out of here," said Wardner. "Maybe miracles will strike, and we will be able to move that bill without a conference committee. However, don't bet on it."
