| Last Action | to Appropriations & Revenue (H) |
|---|---|
| Title | AN ACT relating to the allocation of severance tax revenues to local governments. |
| Bill Documents | Introduced |
| Impact Statements |
Fiscal Note
Local Mandate |
| Bill Request Number | 296 |
| Sponsors | J. Gooch Jr., J. Blanton, M. Castlen, M. Hart |
| Summary of Original Version | Amend KRS 42.450 to increase the amount of minerals severance and processing taxes distributed to local governments through the local government economic assistance fund (LGEAF) to 100% of taxes collected, from the current 50%, over a five-year period; amend KRS 42.4582 and 42.4585 to similarly increase the amount of coal severance and processing taxes distributed to local governments through the local government economic development fund and LGEAF to 60% and 40% of taxes collected, from the current 35% and 15%, respectively, over the same five-year period. |
| Index Headings of Original Version |
Economic Development - Severance tax revenues, increase distributions to local governments Local Government - Severance tax revenues, increase distributions to local governments Minerals and Mining - Severance tax revenues, increase distributions to local governments Oil and Natural Gas - Severance tax revenues, increase distributions to local governments Taxation - Severance tax revenues, increase distributions to local governments Taxation, Severance - Tax revenues, increase distributions to local governments Budget and Financial Administration - Severance tax revenues, increase distributions to local governments Cities - Severance tax revenues, increase distributions to local governments Coal - Severance tax revenues, increase distributions to local governments Counties - Severance tax revenues, increase distributions to local governments Fiscal Note - Tax revenues, increase distributions to local governments Local Mandate - Tax revenues, increase distributions to local governments |
| 10/25/16 |
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|---|---|
| 01/03/17 |
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Last updated: 1/16/2019 3:02 PM (EST)