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2002 SESSION

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HB 860 Local severance taxes; revenues used for construction, water systems.

Introduced by: Clarence E. Phillips | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Local severance taxes; additional one percent; revenues used for construction of water systems. Authorizes counties and cities to impose an additional local severance tax on persons engaging in the business of severing gases from the earth. A county or city may impose this additional tax at a rate not to exceed one percent of the gross receipts from the sale of gases severed within the county or city. The effective date of the bill is July 1, 2002, and the increase is applicable for license years beginning on or after January 1, 2002. The revenues from this increase shall be used for constructing new and improved water systems and lines in areas with natural water supplies that are insufficient in quality or quantity. This bill would increase the total license tax rate that counties and cities may currently levy on businesses severing gases from three percent to four percent.


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