Texas Tax Code

§ 204.001 — DEFINITIONS

TX § 204.001Title 2. STATE TAXATION · Part I. SEVERANCE TAXES · Ch. 204. TAX CREDIT FOR NEW FIELD DISCOVERIES

Statute text

In this chapter:

(1)"Commission" means the Railroad Commission of Texas.

(2)"Field" means an accumulation of oil or gas or both that is not in natural pressure communication or otherwise connected to any other accumulation of oil or gas or both.

(3)"New field" means a field that has been certified by the commission as a previously unrecognized and unidentified field.

(4)"Discovery well" means an oil or gas well by which a new field discovery is made.

(5)"Spud" means the initial penetration of the earth by the drill bit for an oil or gas well under proper permit from the commission.

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Legislative history

Added by Acts 1993, 73rd Leg., ch. 1014, Sec. 1, eff. Sept. 1, 1993.