Michigan SB0140 increases the fee for monitoring, administration, and enforcement of oil and gas production in the state.

Michigan SB0140 amends the fee for monitoring, surveillance, enforcement, and administration of oil and gas production. The bill increases the fee to a maximum of 2% of the gross cash market value of oil and gas produced in the state. The fee is collected by the revenue division of the department of treasury. The proceeds are deposited into a fund, and any excess over $7,000,000.00 is deducted from the next fiscal year's appropriation. The fee is determined annually based on the fund balance and the estimated production value.

Michigan SB0140 increases the fee for monitoring, administration, and enforcement of oil and gas production in the state.

Michigan SB0140 amends the fee for monitoring, surveillance, enforcement, and administration of oil and gas production. The bill increases the fee to a maximum of 2% of the gross cash market value of oil and gas produced in the state. The fee is collected by the revenue division of the department of treasury. The proceeds are deposited into a fund, and any excess over $7,000,000.00 is deducted from the next fiscal year's appropriation. The fee is determined annually based on the fund balance and the estimated production value.