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Bill Description
AN ACT relating to severance tax; decreasing the severance tax rate for surface coal; making conforming changes; and providing for an effective date.
Notes
HB75 reduces the severance tax rate on surface coal production from 6.5% to 6.0%, which would move closer to parity with the oil and gas severance tax, which is currently at 6.0%. Coal production is vital not only for energy demands of our country and state, but also for funding our school systems. The Wyoming coal industry currently bears the heaviest tax burden of all industries in the state. Bringing parity between these different energy commodities will help ensure the coal industry can continue to produce minerals economically, generate revenue for the state and maintain well-paying employment opportunities.
Wyoming is the nation’s leading coal producer, providing about 40% of America’s coal. And coal supplies more than half of the electricity in the nation. In fact, each person in the U.S. uses about 20 pounds of coal
every day considering 8 out of 10 tons of coal are used to produce electricity. The advantages of Wyoming coal include:
- It’s more affordable than Eastern coal and other fuels.
- There are huge reserves in the state.
- Wyoming’s supply of coal is reliable.
- Wyoming’s low-sulfur coal can be produced and used in compatibility with the nations’ environmental objectives.
HB75 helps maintain Wyoming's position as America's leader of clean, affordable and reliable coal. And coal helps keep Wyoming's economy running strong.
House
3rd Reading:Passed 57-4-1-0-0Yea: Allemand; Andrew; Angelos; Banks; Bear; Brady; Bratten; Brown; Brown, G.; Byron; Campbell, E.; Campbell, K.; Clouston; Connolly; Davis; Eklund; Erickson; Filer; Geringer; Guggenmos; Haroldson; Harshman; Heiner; Hoeft; Jarvis; Johnson; Kelly; Knapp; Larsen; Larson; Lawley; Lien; Locke; Lucas; McCann; Neiman; Nicholas; Ottman; Pendergraft; Posey; Rodriguez-Williams; Schmid; Singh; Smith; Strock; Styvar; Tarver; Thayer; Washut; Wasserburger; Webb; Webber; Wharff; Williams; Winter; Wylie; Yin
Nay: Chestek; Provenza; Sherwood; Storer
Absent: Riggins