News Releases for May 2008
May 30, 2008
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Hoeven, Wells Announce Historic State-Tribal Tax Agreement
BISMARCK, N.D. – Gov. John Hoeven and Chairman Marcus Wells, Jr. today announced they have forged an agreement that will help spur the production of oil and gas on the Fort Berthold Reservation.
The Tribal Business Council voted unanimously Thursday to approve an agreement that will streamline the two-tax system into one, providing more economic certainty for oil companies, and enhanced interest in oil and gas exploration for the tribes.
"This agreement should help open the doors to oil and gas exploration on the Fort Berthold Reservation," Hoeven said. "The additional activity will provide economic development, jobs, and revenue for the Three Affiliated Tribe and its members, while recognizing and maintaining tribal sovereignty. I want to thank Chairman Wells and his team, as well as Ryan Bernstein, my legal counsel, for their effort to make this work. It's a win for the tribes, a win for the state's oil industry, and a win for the state of North Dakota."
"After reviewing this agreement for one and one-half years, the Three Affiliated Tribes and the State of North Dakota have reached an agreement that we can make work," Wells said. "Through this present agreement both the Tribe and State are able to work together to provide more stability in the taxation of oil and gas in western North Dakota."
The Tribal Business Council plans to utilize the revenue from this tax agreement to fund the improvement of our Tribal Roads System, Health Care, and Law Enforcement, according to Wells.
"I want to extend a thank you to Governor Hoeven and to everyone who was involved with the tax agreement, specifically the Tribal Business Council, Tribal Attorney Damon Williams, Marcus Wells, Sr. in our Tribal Tax Department, Fred Fox of the TAT Energy Department, and Dewey Hosie, the Tribal Employment Rights Office Director," Wells said.
The negotiations started with the passage of a bill during the last legislative session that authorized the tax revenue sharing between the Tribe and State of North Dakota.
A signing ceremony is scheduled for June 10, 2008, in New Town North Dakota.
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