Mineral lands; local property and license taxes. (SB338)
Introduced By
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Local license tax; severance of gases. Defines gross receipts for purposes of the local license tax on the severance of gases as the average price received by the licensee per thousand cubic feet (MCF) of sales of gas, adjusted for production and transportation costs, multiplied by the volume of gas per MCF severed by the licensee in the locality. However, if more than 50 percent of the volume of gas sold by the licensee during the tax reporting period is sold in other than an arm's-length transaction, then the average price received would be the New York Mercantile Exchange average price of gas per MCF for the reporting period. The bill also provides two adjustments to the average price, a deduction of $0.75 per MCF for production costs and a deduction for transportation costs equal to the lesser of $0.25 per MCF or the actual transportation costs per MCF charged to the licensee for transporting gas through Federal Energy Regulatory Commission regulated pipelines. Under current law, gross receipts are measured by the fair market value of the gas at the time of sale, use, or shipment. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/07/2014 | Prefiled and ordered printed; offered 01/08/14 14101929D |
01/07/2014 | Referred to Committee on Finance |
01/17/2014 | Impact statement from TAX (SB338) |
01/28/2014 | Reported from Finance with substitute (14-Y 0-N) (see vote tally) |
01/28/2014 | Committee substitute printed 14104452D-S1 |
01/29/2014 | Constitutional reading dispensed (40-Y 0-N) |
01/30/2014 | Read second time |
01/30/2014 | Reading of substitute waived |
01/30/2014 | Committee substitute agreed to 14104452D-S1 |
01/30/2014 | Engrossed by Senate - committee substitute SB338S1 |
01/31/2014 | Read third time and passed Senate (40-Y 0-N) |
02/07/2014 | Placed on Calendar |
02/07/2014 | Read first time |
02/07/2014 | Referred to Committee on Finance |
02/12/2014 | Impact statement from TAX (SB338S1) |
02/17/2014 | Reported from Finance (21-Y 0-N) (see vote tally) |
02/18/2014 | Read second time |
02/19/2014 | Read third time |
02/19/2014 | Passed House BLOCK VOTE (99-Y 0-N) |
02/19/2014 | VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally) |
02/21/2014 | Enrolled |
02/21/2014 | Bill text as passed Senate and House (SB338ER) |
02/21/2014 | Signed by Speaker |
02/23/2014 | Signed by President |
02/24/2014 | Impact statement from TAX (SB338ER) |
03/05/2014 | G Approved by Governor-Chapter 179 (effective 7/1/14) |
03/05/2014 | G Acts of Assembly Chapter text (CHAP0179) |