West Virginia House Bill 4499 (Prior Session Legislation)

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Sponsorship: Moderate Partisan Bill (Democrat 8-2)
Status: Introduced on February 13 2012 - 25% progression, died in committee
Action: 2012-02-13 - To House Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]

The purpose of this bill is to provide a source of funding for infrastructure projects in those counties that produce natural gas from the marcellus or utica shale formations. The bill sets a baseline of tax collections at $64.8 million from oil and gas. The bill provides that ten percent of those funds collected in excess of that baseline will continue to be for the benefit of counties and municipalities. The bill provides that the remaining ninety percent be deposited equally between the General Revenue Fund and the newly created Marcellus Development Account. The moneys from the Marcellus Development Account shall be distributed to counties based on their pro rata share of the gas produced from the marcellus or utica shale formations. The bill provides that funds from the Marcellus Development Account may only be used for infrastructure projects. This section is new; therefore, it has been completely underscored.

Relating to severance taxes collected for privilege of producing oil or natural gas

Del. Brent Boggs [D]	Del. Samuel Cann [D]	Sen. Ryan Ferns [R]	Del. Michael Ferro [D]
Del. Charlene Marshall [D]	Del. Don Perdue [D]	Del. David Pethtel [D]	Del. Erikka Storch [R]
Del. Scott Varner [D]	Del. Harry White [D]

Date	Chamber	Action
2012-02-13		To House Finance
2012-02-13		Introduced in House
2012-02-13		To Finance
2012-02-13		Filed for introduction

Chapter	Article	Section	Citation Type	Statute Text
11	13A	5b	New Code	See Bill Text

Type	Source
Summary	http://www.legis.state.wv.us/Bill_Status/Bills_history.cfm?input=4499&year=2012&sessiontype=RS&btype=bill
Text	http://www.legis.state.wv.us/Bill_Status/bills_text.cfm?billdoc=hb4499%20intr.htm&yr=2012&sesstype=RS&i=4499