79-255. Property tax refund for oil lease property; claim procedures. (a) For all taxable years commencing after December 31, 1999, and subject to the provisions of this section, there shall be allowed as a property tax refund to the operator of an oil lease an amount equal to 50% of the total amount of property tax levied and actually and timely paid by the operator for a property tax year which is attributable to the working interest of an oil lease the average daily production per well from which is 15 barrels or less when the price per barrel of oil is $16 or less, as prescribed in the oil and gas appraisal guide by the director of property valuation for the applicable tax year. No refund shall be allowed for property tax paid upon machinery and equipment for which a credit is claimed pursuant to K.S.A. 79-32,206, and amendments thereto.
(b) No claim for a refund allowable pursuant to subsection (a) shall be paid unless filed with and in possession of the department of revenue on or before April 15 of the year next succeeding the year in which such taxes were paid, except that the director of taxation may extend the time for filing any claim or accept a claim filed after the deadline for filing when good cause exists therefor if the claim has been filed within three years of the deadline.
(c) The allowable amount of such claim shall be paid to the operator from the income tax refund fund upon warrants of the director of accounts and reports pursuant to vouchers approved by the director of taxation or by any person designated by the claimant, but no warrant issued hereunder shall be drawn in an amount of less than $5. No interest shall be allowed on any payment made to an operator pursuant to this section.
(d) Insofar as the same may be made applicable, the provisions of K.S.A. 79-3226, and amendments thereto, shall apply to claims for refunds allowable pursuant to this section which may become in dispute.
(e) The department of revenue shall devise and provide forms and instructions necessary to administer this section, and the secretary of revenue may adopt rules and regulations for such purpose.
History: L. 2000, ch. 184, § 29; L. 2001, ch. 57, § 5; April 12.
Structure Kansas Statutes
Article 2 - Property Exempt From Taxation
79-201a Property exempt from property and ad valorem taxes.
79-201c Same; wearing apparel; household goods and personal effects; graveyards.
79-201e Same; mined land; reclaimed surface mining operations.
79-201h Same; solar energy systems.
79-201i Purpose for farm machinery and equipment property tax exemption.
79-201k Property exempt from taxation; purpose; business aircraft.
79-201m Property exempt from taxation; merchants' and manufacturers' inventory.
79-201n Property exempt from taxation; grain.
79-201o Property exempt from taxation; construction hand tools.
79-201p Property exempt from taxation; motor vehicle inventories.
79-201r Property exempt from taxation; Strother Field airport.
79-201t Property exempt from taxation; oil leases.
79-201u Property exempt from taxation; motor vehicles donated for charitable auctions.
79-201w Property exempt from taxation; machinery, equipment, materials and supplies.
79-201x Property exempt from taxation; residential property exempt from statewide school levy.
79-205 Waterworks plants at Kansas City exempted from taxation.
79-219 Property exempt from taxation; mechanic's hand tools.
79-220 Property exempt from taxation; antique and amateur-built aircraft.
79-223 Same; certain commercial and industrial machinery and equipment.
79-225 Property exempt from taxation; certain integrated coal gasification power plant property.
79-226 Property exempt from taxation; certain refinery property.
79-227 Property exempt from taxation; certain crude oil or natural gas pipeline property.
79-229 Property exempt from taxation; certain biomass-to-energy plant property.
79-230 Property exempt from taxation; nuclear generation facility property.
79-232 Property exempt from taxation; biofuel storage and blending equipment.
79-233 Property exempt from taxation; carbon dioxide capture, sequestration or utilization property.
79-234 Same; certain tangible personal property.
79-253 Applicability of amendments to 79-201, 79-251 and 12-1749d.
79-254 Exempt property deemed used exclusively, when.
79-255 Property tax refund for oil lease property; claim procedures.
79-256 Independent power producer property and pollution control devices; definitions.
79-257 Same; exemption from taxation.
79-259 Property exempt from taxation; certain electric transmission lines and appurtenances.
79-260 Property exempt from taxation; new automobile manufacturing property.
79-261 Procedure governing classification of property for purposes of exemption under 79-223.
79-263 Property exempt from taxation; certain airports.
79-264 Property exempt from taxation; certain property owned by a redevelopment authority.