This act provides an exemption from the severance taxes charged in W.S. 39-14-204(a)(iii) (which is a two percent (2%) severance tax) for tertiary production resulting from enhanced oil recovery projects that the Oil and Gas Conservation Commission certifies. This exemption applies to tertiary production from projects certified between July 1, 2026 and July 1, 2031, and the exemption applies for a period of five (5) years from the date of the first tertiary production from the project. Under current law, tertiary production is oil that is recovered from a petroleum reservoir by means of a tertiary enhanced recovery project using at least one tertiary recovery technique that meets state or federal requirements. The act requires the Department of Revenue and the Oil and Gas Conservation Commission to report annually on the tertiary production qualifying for the severance-tax exemption provided in this act until November 1, 2036. Comments: This act requires an annual report from the Department of Revenue and the Oil and Gas Conservation Commission until November 1, 2036. AN ACT relating to taxation and revenue; providing a severance tax exemption for tertiary oil production as specified; requiring reports; and providing for an effective date.