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The Independent Fiscal Office Monday said the Act 13 drilling impact fee will being in $13.1 million less than last year for a total of $174.6 million. That’s down $61.2 million from its high in 2013 of $225.7 million-- a 27 percent reduction.
That means Act 13 funding for environmental programs is $22.1 million less than in 2013.
IFO said the estimated revenue equates to an effective tax rate of 5 percent, down from 6.9 percent in 2015 and 2.4 percent in 2014, the year with the lowest effective tax rate.
The IFO pointed to several factors for the reduction: there are not enough new wells to offset older producing wells; reduced collections from newly-exempt older wells and collections from previously-exempt wells not rising about the production thresholds.
A copy of the full report is available for download.
NewsClips:
Revenue From Drilling Impact Fees Expected To Fall Again This Year
Washington County Commissioner To HBG: Keep Act 13 Impact Fee
Wolf To Push Again For Severance Tax On Natural Gas Industry
McKelvey: Harrisburg Revs Up For Natural Gas Severance Tax Fight
New Year, Another Round Of Natural Gas Severance Tax Proposals, Nothing For Environment
Editorial: Natural Gas Severance Tax A Nonstarter
Bay Journal: PA Lawmakers Proposed Water Fee To Raise Cleanup Funds
Thompson: Wolf’s Challenge: How To Balance Budget Without Broad Tax Increase
AP: Grim New Forecast Sees Nearly $3B Budget Gap In PA
Independent Report Shows PA Revenues Down Yet Again
AP: Wolf To Consolidate Health, Aging, Drug, Human Services Agencies
PA Budget Crunch: Wolf Wants To Merge 4 Departments
Murphy: Wolf To Propose Consolidating 4 Agencies Into 1
Crable: EPA Pick Says He Will Support, Enforce Chesapeake Bay Cleanup, More Funding
Trump Team Plans Big Cuts At EPA
AP: Official: Trump Wants To Slash EPA Workforce, Budget
Crable: State Parks Increase Fees For Camping, Swimming, Add Transaction Fees
[Posted: Jan. 24, 2017]
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