Bob Beach voted Nay (Passage With Amendment) on this Legislation.
Title: Reduces Severance Tax on Steam Coal
Signed by Governor Jim Justice, Jr.
Title: Reduces Severance Tax on Steam Coal
Title: Reduces Severance Tax on Steam Coal
Vote to pass with amendment a bill that reduces the severance tax on thermal or steam coal.
Specifies that the tax rate imposed on the gross value of thermal or steam coal produced will be reduced incrementally over the next 3 tax years for a total reduction of 2 percent by July, 1, 2021 (Sec. 11-13A-3).
Specifies that the reduction will occur at the rate of (Sec. 11-13A-3):
35 percent of the 2 percent reduction starting July 1, 2019,
65 percent of the 2 percent reduction starting July 1, 2020; and
100 percent of the 2 percent reduction starting July 1, 2021.
Specifies that the rate of tax includes the 0.0035 percent additional severance tax on coal imposed by the state for the benefit of counties and municipalities, and the additional severance tax imposed by the state for the benefit of coal-producing counties (Sec. 11-13A-3).
Title: Reduces Severance Tax on Steam Coal
Title: Reduces Severance Tax on Steam Coal