Bill description: This bill would require oil and gas producers submit monthly forms to the State Tax Commision.
Does it give government any new, additional, or expanded power to prohibit, restrict, or regulate activities in the free market?
This new regulation would require every producer of oil and gas in Idaho to supply production information monthly to and on forms supplied by the State Tax Commission. The Commission would require the name and location of every well and any other reasonable information. The bill gives the Commission authority to perform audits of producers every three years.
This new authority could infringe on the industry’s ability to conduct business effectively. Complying with the requirements would require manpower to fill out forms and to navigate the audits by the Commission. (-1)