Tax incentives for qualifying tertiary recovery projects.

81-09-03-05.2. Tax incentives for qualifying tertiary recovery projects. 1. The exemption for incremental production from a qualifying tertiary recovery project starts with the first day of the first month in which incremental oil is produced from the project. 2. The exemption and rate reduction may be eliminated as of the first day of the first month in which the unit ceased to be operated as a qualified project if the industrial commission determines that the unit operator is not continuing to operate the unit as a qualifying tertiary recovery project. History: Effective June 1, 1992; amended effective June 1, 2002; July 1, 2016. General Authority: NDCC 57-51-21, 57-51.1-05 Law Implemented: NDCC 57-51.1-01(5)(6)