An update on lawmaker action and other activities at the Ohio Statehouse related to horizontal hydraulic fracturing
Mixed signals: Republicans in the Ohio House began deliberations on a proposal to revamp tax rates on oil and gas produced via horizontal hydraulic fracturing.
House Bill 375 calls for lower taxes on conventional wells and increasing rates on those drilled horizontally, with excess proceeds devoted to plugging abandoned wells and potentially cutting income-tax rates.
Gov. John Kasich isn’t backing the legislation as-is, however, saying a higher rate is needed.
“I want to make sure as they deplete our resources that they pay for it, mostly out-of-state people, and that we use those resources to benefit every Ohioan by reducing the tax burden [for] every Ohioan,” he said. “I think it’s important we get that done.”
Click here to read about some of the other matters that are in the courts.But industry groups support the House Republicans’ approach.
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