Prior to July 1, 2016, the Connection Fund is held at five million dollars ($5,000,000.00). If the plugging fund falls below the maintenance level of five million dollars, the Companies Commission will notify the tax commission that the plugging fund has fallen below the required level of maintenance and that the excise tax collected pursuant to subsection A of section 1101 of title 68 of the laws of Oklahoma and subdivision A of section 1102 of title 68 of the laws of Oklahoma Oklahoma. credited and allocated to the Connection Fund of the Commission of the Société. pursuant to 68 Title 68, Section 1103 of the Oklahoma Statute. This additional excise tax will be levied and collected for as long as it is necessary to reach the additional maintenance amount of five million dollars. The Tax Commission shall inform the persons responsible for paying excise duties on oil and natural gas of the levying of this tax. The provisions of this subsection shall expire on 1 July 2016. The Company Commission is hereby authorized to enact rules for the blocking of all closed oil and gas wells. Disused wells shall be blocked under the direction and supervision of Commission officials in accordance with Commission rules.
However, the Commission shall not order the closure or closure of an oil or gas well in the case of an oil or gas lease produced elsewhere as defined by the Commission, unless the well poses an immediate threat to public health and safety identified by the Commission following a public consultation on the matter. Only the Oklahoma Secretary of State`s office can issue official rules. Printed copies of the rulebooks can be purchased from the Corporation Commission by mail or in person at the Jim Thorpe Building. You can download the rules for free. For official copies and questions, please consult the phone numbers next to each set of rules or write to: Note: The rules provided by the Company Commission (whether online or in print) are not official and reflect to the best of our knowledge the latest changes to the rules. One. A fund for the Corporation Commission is established in the Consolidated Revenue Fund called the Corporation Commission Plugging Fund. The Connection Fund consists of the funds received by the Commission of the Société in accordance with the law to deposit in the balance of the fund. The Fund is a rolling fund with no fiscal year restrictions and no statutory funds.
The expenses of the plugging fund shall be made in accordance with the laws of this State and the By-Laws of the Commission of the Corporation. For each Fiscal Year, the Commission shall not expend more than eight percent (8%) of the total amount deposited in the Plugging Fund Account in the preceding Fiscal Year to respond to natural gas leaks pursuant to Section 317.1 of Title 52 of the Oklahoma Bylaws. In addition, expenditures of the Patching Fund may be made under the Oklahoma Central Purchasing Act, sections 85.1 et seq. of Title 74 of the Oklahoma Bylaws to respond promptly to emergencies within the jurisdiction of the Commission that have potentially critical impacts on the environment or public safety. The expenditure warrants of the Fund shall be drawn by the State Treasurer on the basis of claims signed by an authorized employee of the Corporation`s Commission and approved for payment by the Director of the Office of Management and Corporate Services. Nothing in the provisions of this Act or the rules made under this Act shall be construed as exempting or reducing in any way the bonding requirements required by section 318.1 of title 52 of the Oklahoma bylaws. Added by Laws 1917, c. 207, p. 385, § 3. Amended by the Acts of 1998, c. 340, § 1, emerg.
entered into force on 3 June 1998; Laws 2000, c. 315, § 1, entered into force on 1 July 2000. Added by Acts 1990, c. 107, § 1, eff. 1 October 1990. Amended by the 1995 Act, c. 328, § 5, which entered into force on 1 July 1995; Laws 2001, c. 249, § 4, entered into force on 1 July 2001; Laws 2006, c. 252, § 1, entered into force on 1 July 2006; Laws 2011, c. 154, § 1; Laws 2012, c. 304, § 59; Laws 2015, c. 314, § 1, entered into force on 1 July 2015.