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Pennsylvania House of Representatives
04/18/2024 07:25 PM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20170&cosponId=24240
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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2017 - 2018 Regular Session

MEMORANDUM

Posted: June 27, 2017 11:44 AM
From: Representative Nick Miccarelli and Rep. Stephen Barrar, Rep. James R. Santora, Rep. Alexander T. Charlton, Rep. Christopher B. Quinn
To: All House members
Subject: Shale Legislation provides a tax rate betwen 3.5% and 7%
 

In the near future, I plan to introduce legislation to enact a severance tax on natural gas extraction in the Commonwealth.

This legislation provides for a tax rate between 3.5% and 7% of the value of the gas, adjusted annually. The annually adjusted rate shall be determined by diving the average PA hub price by the average among the NYMEX and Henry Hub prices. This allows a fair, market-driven rate mechanism that will generate needed revenues while being sensitive to market conditions.

My legislation also allows producers to subtract their Unconventional Well Impact Fee payments from their severance tax liability so that we can continue to provide for the many important impact fee programs. Finally, all proceeds from this new severance tax will benefit the Commonwealth’s General Fund.

Please join us in co-sponsoring this legislation.

Introduced as HB1626