From Bricker & Eckler, the Columbus-based law firm, and its shale blog:
Ohio Rep. Matt Huffman (R-Lima) this week introduced a new severance tax proposal in the Ohio House of Representatives.
Co-sponsors of the bill include many House Republican leaders, including Speaker of the House William G. Batchelder (R-Medina).
The new severance tax proposal: (i) reduces the severance tax rate on persons extracting oil and natural gas by means other than horizontal wells (e.g., traditional vertical drilling); (ii) imposes a tax on the net proceeds of oil and natural gas produced through horizontal wells; (iii) provides a non-refundable credit against the state income tax equal to the amount of the horizontal severance tax paid by the taxpayer (which includes the oil and gas producer with a working interest or landowner with a royalty interest); and (iv) provides an exclusion from the commercial activity tax (CAT) for proceeds of the sale of oil and gas by persons paying the severance tax applicable to the use of horizontal wells.
The bill, if adopted, would raise about $1.7 billion over 10 years.
Click here to read the Bricker & Eckler LLP summary.
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.