Committee advances bill to divide severance tax bond allocation into three equal shares
A senator introduced legislation to statutorily divide severance tax bond capacity into equal thirds for the governor, the Senate and the House. The Rules Committee gave the bill a do-pass recommendation after debate over statewide-project definitions and the governor’s ability to use funds for regional projects.
The full story
Senator Woods (presenting the measure as Senate Bill 514) described a proposal to put into statute a three-way division of severance tax bond (STB) capacity: one third for the governor to use on statewide projects, one third for the Senate and one third for the House. The sponsor said the change would remove annual negotiations about how to divide the STB capacity and ensure a predictable split going forward.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.