07/15/24 - 152 New Stories - REAL Environmental & Conservation Leadership In PA: http://tinyurl.com/45529742
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House Environmental Committee To Consider Natural Gas Severance Tax Bill
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The House Environmental Resources and Energy Committee will meet on June 23 to consider House Bill 1489 (George-D-Clearfield) establishing a natural gas severance tax. Although the bill as introduced earmarked all the revenue from the new tax to the General Fund, an amendment is expected to be offered to direct a significant portion of the funds raised to environmental and energy programs. The Pennsylvania Environmental Council issued this statement in support of an allocation for environmental programs-- "Given extraordinary budget circumstances, coupled with unprecedented reductions in environmental and conservation program funding, we believe a severance tax makes sense for Pennsylvania to help fund associated state programs.
"According to a report recently published by the Pennsylvania Budget and Policy Center, Pennsylvania is the only major fossil fuel-producing state that does not levy a mineral resource extraction tax. The study also found Marcellus Shale producers, who are accustomed to paying such severance taxes in other states, do not pay Pennsylvania's Corporate Net Income Tax because of the way they are incorporated.
"Further, a recent bipartisan poll found 87 percent of the public supported using revenues from the enactment of a severance tax on natural gas production to benefit environmental programs.
"A meaningful percentage of the revenues generated from any severance tax must be reinvested in the environment, public resources and local communities that will bear the greatest impacts of extraction activity. Public and private water supplies, local infrastructure, natural ecosystems, and recreational assets will all be affected.
"We should not miss a chance to secure a dedicated funding source to help address those impacts, as well as to maintain and enhance the very natural resources that generate real economic returns for our state."
Rep. Bud George (D-Clearfield) serves as Majority Chair and Rep. Scott Hutchinson (R-Venango) serves as Minority Chair. Link: Marcellus Shale Severance Tax Vital To Solving PA's Environmental Funding Issues |
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6/19/2009 |
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