Tex. Tax Code § 204.004 · Chapter 204. TAX CREDIT FOR NEW FIELD DISCOVERIES
TAX CREDIT FOR ADDITIONAL WELLS IN A NEW FIELD.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Upon the commission notifying the comptroller that 842 discovery wells have been spudded in 1994, persons obtaining a new field discovery during that year shall be eligible for an additional $25,000 tax credit for each additional well spudded and producing from that field, within 10 years from the spud date of the discovery well. The tax credit is available to persons who obtain a new field discovery regardless of who drills the additional well.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 1014, Sec. 1, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TX/htm/TX.204.htm
- Text hash
- sha256 c404b8da16dd35c980965703737d164d14f94194d5546b9d483857f83c662267
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.