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MS SB2294
Bill
Status
2/26/2014
Primary Sponsor
Haskins Montgomery
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AI Summary
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Amends Section 27-25-505, Mississippi Code of 1972, to revise the distribution of oil severance taxes between the state and counties where oil is produced.
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On the first $600,000 in collections, maintains the existing 66-2/3% to state and 33-1/3% to county split.
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For amounts exceeding $600,000, establishes a graduated schedule that gradually increases county share from 20% (through June 30, 2015) to 33-1/3% (from July 1, 2019 forward), with corresponding decreases to state share.
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Removes the previous tiered distribution schedule for amounts exceeding $1,200,000.
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Effective date: July 1, 2014.
Legislative Description
Oil and gas severance tax;revise distribution between state and counties.
Last Action
Died In Committee
2/26/2014