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SB 1 - Natural Gas Tax - Arkansas Key Vote

Stage Details

See How Your Politicians Voted

Title: Natural Gas Tax

Vote Smart's Synopsis:

Vote to pass a bill that increases the severance tax on four categories of natural gas and allocates the tax revenue for state highway improvements.

Highlights:

- Sets the severance tax on the market value of natural gas at (sec. 7):

    - 1.5 percent for "new discovery" and "high-cost gas" - 1.25 percent for "marginal gas" - 5 percent for all other types of natural gas
- Allocates 95 percent of the taxes collected on natural gas for use under the Arkansas Highway Revenue Distribution Law and allocates 5 percent to the general fund (sec. 9).

NOTE: TAX INCREASES MUST BE APPROVED BY VOTERS. IN EMERGENCY SITUATIONS, THE LEGISLATURE MAY INCREASE TAXES BY A 3/4 MAJORITY IN BOTH CHAMBERS.

See How Your Politicians Voted

Title: Natural Gas Tax

Vote Smart's Synopsis:

Vote to pass a bill that increases the severance tax on four categories of natural gas and allocates the tax revenue for state highway improvements.

Highlights:

- Sets the severance tax on the market value of natural gas at (sec. 7):

    - 1.5 percent for "new discovery" and "high-cost gas" - 1.25 percent for "marginal gas" - 5 percent for all other types of natural gas
- Allocates 95 percent of the taxes collected on natural gas for use under the Arkansas Highway Revenue Distribution Law and allocates 5 percent to the general fund (sec. 9).

NOTE: TAX INCREASES MUST BE APPROVED BY VOTERS. IN EMERGENCY SITUATIONS, THE LEGISLATURE MAY INCREASE TAXES BY A 3/4 MAJORITY IN BOTH CHAMBERS.

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