|Posted:||March 24, 2014 11:03 AM|
|From:||Senator Edwin B. Erickson|
|To:||All Senate members|
|Subject:||Natural Gas Severance Tax (Revised)|
|I previously circulated a co-sponsorship memo stating that I plan to introduce legislation that will enact a severance tax on the extraction of natural gas in Pennsylvania. The rate of the tax will be 4 percent of the gross value of the natural gas severed at the wellhead. The revenue collected will be deposited into the General Fund.
I intend to revise this legislation in one respect. Rather than depositing the revenue in the General Fund, the revenue will be deposited into the Severance Tax for Education Fund, which will be dedicated entirely to funding public education.
Cosponsors of the previous version of this legislation were Senators Yudichak, Schwank, Greenleaf, Hughes, Teplitz and Rafferty.
Introduced as SB1349