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Introduced Version - Originating in Committee Senate Concurrent Resolution 59 History

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SENATE CONCURRENT RESOLUTION NO. 59

(By Senators Deem, D. Facemire, Fanning, Green, Guills,

Helmick, Jenkins, Stollings, Sypolt, Williams and Yost)

______________

[Originating in the Committee on Energy, Industry and Mining]


Requesting the Joint Committee on Government and Finance study improving and updating West Virginia's severance tax on natural gas and oil.

Whereas, Currently the producer, or severer, of natural gas or oil remits the severance tax to the state; and
Whereas, Opportunities for improved efficiency in administration of the severance tax on natural gas or oil may exist if severance taxes are remitted by the first purchaser of natural gas or oil after the gas or oil has been severed, rather than remitted by the producer; and
Whereas, Neighboring states provide that the severance tax on natural gas and oil be remitted by the first purchaser; and
Whereas, An increase in the collection of severance taxes may occur through the elimination of certain severance tax provisions, including the exemption on low-producing wells and the $500 per taxpayer tax credit; therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby requested to study improving and updating West Virginia's severance tax on natural gas and oil; and, be it
Further Resolved, That the Joint Committee on Government and Finance is hereby requested to study the impact of the elimination of certain credits and exemptions relating to the severance tax on natural gas and oil, including the low-producing well exemption and the $500 per taxpayer credit; and be it
Further Resolved, That the Joint Committee on Government and Finance report to the regular session of the Legislature, 2010, on its findings, conclusions and recommendations, together with drafts of any legislation necessary to effectuate its recommendations; and, be it
Further Resolved, That the expenses necessary to conduct this study, to prepare a report and to draft necessary legislation be paid from legislative appropriations to the Joint Committee on Government and Finance.

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