HB 678/FN (BR 842) - C. Ratliff, S. Alexander, H. Anderson, M. Bowling, J. Gooch, D. Newsome, M. Rader, J. Stewart, G. Stumbo
AN ACT relating coal severance tax and declaring an emergency.
Create a new section of KRS Chapter 143 to provide a tax credit against the coal severance tax equal to 3.87% of gross value for coal mined underground with seam thickness of 37 inches or less or with an average sulfur content of 4.5% or greater and 2.5% of gross value for coal mined underground with seam thickness between 37 inches and 45 inches or with an average sulfur content of 3.5% but less than 4.5%; amend KRS 42.450 to provide for transfers to the local government economic assistance fund; amend KRS 42.4709 to provide for transfers of the local government economic assistance fund to counties; amend KRS 11A.233, 154.12-224, 154.47-035, and 154.47-070 to conform; repeal KRS 42.4582, 42.4585, 42.4586, 42.4588, 42.4592, and 42.4595; EFFECTIVE JULY 1, 1998.
Feb 20-introduced in House
Feb 23-to Appropriations and Revenue (H)