TAX/SEVERANCE TAX: Reduces the rate of severance tax on oil produced from newly completed wells and provides relative to special rates on oil produced from certain limited-production wells (EN DECREASE GF RV See Note)

The document header was changed from 'ENROLLED' to 'ORIGINAL', and the page count was updated from 4 to 5, indicating a revision in the bill's structure.

Line numbers and text ordering were adjusted throughout the document, suggesting a reorganization of clauses rather than new policy additions or removals.

The reduced tax rate for 'incapable wells' was significantly increased from 50% of the standard rate to 6.25% of the standard rate, increasing revenue from these wells.

The reduced tax rate for 'stripper wells' was decreased from 25% of the standard rate to approximately 0.3125% of the standard rate, reducing revenue from these wells.

A new condition was added for 'incapable wells' requiring that every well on the same lease or property must be certified as incapable to qualify for the reduced tax rate, preventing mixed-activity leases from using the lower rate.

Drafting artifacts including 'Engrossed' headers, bill numbers, and page counts were removed as the bill was finalized into its Enrolled version.