Facing multi-billion-dollar budget shortfalls, the California legislature has warmed up an old proposal to levy a severance tax on oil and gas production to fund the state’s struggling higher education system. The measure, Assembly Bill 656 (AB 656), was voted out of the lower house Revenue and Taxation Committee last week with a “pass as amended” recommendation, sending the proposal to the Appropriations Committee.
Warmed
Articles from Warmed
California Lawmakers Consider Oil/Gas Tax for Education
Facing multi-billion-dollar budget shortfalls, the California legislature has warmed up an old proposal to levy a severance tax on oil and gas production to fund the state’s struggling higher education system. The measure, Assembly Bill 656 (AB 656), was voted out of the lower house Revenue and Taxation Committee Monday with a “pass as amended” recommendation, sending the proposal to the Appropriations Committee.
January 13, 2010
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