KRS 137.132: Credit for production from recovered inactive petroleum well.

(1) As used in this section, "recovered inactive well" means a well that has been

inactive for a consecutive two (2) year period or a well that has been plugged and

abandoned, as determined by the Energy and Environment Cabinet, and that

resumes producing crude petroleum oil.

(2) Every taxpayer engaged in the production of crude petroleum oil within this

Commonwealth shall be allowed a credit against the tax imposed under KRS

137.120 equal to four and one -half percent (4.5%) of the market value of crude

petroleum oil that is produced from a recovered inactive well.