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Rendell Signs Bill calling for Severance Tax
July 6, 2010
Today in Bradford County, Governor Rendell signed the fiscal code bill related to the budget that included language committing to the enactment of a severance tax. Here’s the language from SB 1042:
IT IS THE INTENT OF THE HOUSE MAJORITY LEADERSHIP AND
SENATE MAJORITY LEADERSHIP TO PASS LEGISLATION THAT RAISES
REVENUE FROM THE EXTRACTION OF MARCELLUS SHALE NATURAL GAS BY
OCTOBER 1, 2010, WITH AN EFFECTIVE DATE FOR IMPLEMENTATION NO
LATER THAN JANUARY 1, 2011. IT IS THE FURTHER INTENT TO HAVE
REVENUE RAISED FROM THE EXTRACTION OF MARCELLUS SHALE NATURAL
GAS TO BE DIVIDED BY A RATIO TO BE DETERMINED BY LEGISLATION
BETWEEN THE COMMONWEALTH, COUNTIES AND MUNICIPALITIES, AND
ENVIRONMENTAL INITIATIVES.
See the press release below for the Governor’s comments at the bill signing in Bradford County.
Governor Rendell Says Marcellus Shale Development Provides Economic Benefits ...
PR Newswire (press release)
TOWANDA, Pa., July 6 /PRNewswire-USNewswire/ -- During a visit to the most active county for Marcellus Shale drilling this year, Governor Edward G. Rendell ...
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