Bill Text: MI HB4609 | 2013-2014 | 97th Legislature | Introduced
Bill Title: Taxation; excise taxes; distribution of oil and gas severance taxes; earmark for transportation projects. Amends sec. 14 of 1929 PA 48 (MCL 205.314).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2013-04-24 - Printed Bill Filed 04/24/2013 [HB4609 Detail]
Download: Michigan-2013-HB4609-Introduced.html
HOUSE BILL No. 4609
April 23, 2013, Introduced by Rep. Shirkey and referred to the Committee on Transportation and Infrastructure.
A bill to amend 1929 PA 48, entitled
"An act levying a specific tax to be known as the severance tax
upon all producers engaged in the business of severing oil and gas
from the soil; prescribing the method of collecting the tax;
requiring all producers of such products or purchasers thereof to
make reports; to provide penalties; to provide exemptions and
refunds; to prescribe the disposition of the funds so collected;
and to exempt those paying such specific tax from certain other
taxes,"
by amending section 14 (MCL 205.314), as amended by 1994 PA 307.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
14. (1) All taxes shall accompany the report provided for
in
section 2. Except as provided in subsection (2), all All taxes,
penalties, or costs paid to the state treasurer under this act
shall be paid into the state treasury and shall be credited as
follows:
(a) Two percent of the revenue received during each fiscal
year, but not less than $1,000,000.00 shall be credited to the
orphan
well fund created in the orphan well fund act section 61602
of the natural resources and environmental protection act, 1994 PA
451, MCL 324.61602. However, whenever the unexpended balance of the
orphan well fund exceeds $3,000,000.00, further revenues shall not
be credited to the orphan well fund under this subdivision until
the unexpended balance of the orphan well fund becomes less than
$3,000,000.00.
(b)
The remaining revenue received during each fiscal year
that
is not allocated pursuant to subdivision (a) shall be credited
to
the general fund of the state and shall be available for any
purpose
for which the general fund is made available by law.
(2)
The revenue collected under subsection (1) in excess of
$16,000,000.00,
shall be deposited in the general fund and shall be
allocated
for the payment of credits for heating fuel costs
provided
under section 527a of Act No. 281 of the Public Acts of
1967,
being section 206.527a of the Michigan Compiled Laws, for the
fiscal
year ending September 30, 1980 only.
(b) The balance of the revenue received during each fiscal
year, less the amount described in subdivision (a), shall be
distributed as follows:
(i) 50% to the general fund of this state.
(ii) 50% to the state transportation department to be allocated
in the same manner as provided in section 10(1)(j) of 1951 PA 51,
MCL 247.660.
