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Staff review outlines history of Kansas oil-and-gas valuation depletion trust fund and its mechanics
Summary
Committee staff reviewed a 2005–2016 Kansas program that set aside portions of severance‑tax revenue in county subaccounts to cushion counties when mineral leasehold taxable values declined.
Eddie (committee staff) presented a detailed history and mechanics of the oil‑and‑gas valuation depletion trust fund, a statutory program enacted in 2005 (via legislative passage tied to 2005 Senate Bill 128 and House Bill 2390) and operated in practice beginning in 2009. The program diverted a portion of the state’s severance tax receipts into county‑level subaccounts for counties that exceeded a $100,000 severance‑tax threshold; those subaccounts were intended to smooth budget impacts when a county’s mineral leasehold taxable value…
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