COLUMBUS, Ohio (AP) — Lawmakers will hear from backers of a
proposal to increase taxes on horizontally drilled shale wells in Ohio.
The
measure to be discussed at a hearing Wednesday is supported by Ohio’s
oil and gas industry as a compromise to an earlier plan pushed by Gov.
John Kasich (KAY’sik). The industry had balked at Kasich’s proposal to
raise severance taxes on drillers and use proceeds to deliver modest
income tax relief to Ohioans.
The Ohio Oil and Gas Association
supports an alternative proposal from House Speaker William Batchelder
and other Republicans. Batchelder said the bill is constructed to
encourage gas exploration, environmental protection and regulatory
reform.
It would raise the severance tax rate on horizontally
drilled wells by 1 percent, then 2 percent, while rolling back similar
taxes on traditional wells.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
COLUMBUS, Ohio (AP) — Lawmakers will hear from backers of a
proposal to increase taxes on horizontally drilled shale wells in Ohio.
The
measure to be discussed at a hearing Wednesday is supported by Ohio’s
oil and gas industry as a compromise to an earlier plan pushed by Gov.
John Kasich (KAY’sik). The industry had balked at Kasich’s proposal to
raise severance taxes on drillers and use proceeds to deliver modest
income tax relief to Ohioans.
The Ohio Oil and Gas Association
supports an alternative proposal from House Speaker William Batchelder
and other Republicans. Batchelder said the bill is constructed to
encourage gas exploration, environmental protection and regulatory
reform.
It would raise the severance tax rate on horizontally
drilled wells by 1 percent, then 2 percent, while rolling back similar
taxes on traditional wells.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.