Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Senate tax committee advances helium extraction tax bill after adopting technical amendment; bill would create gross‑proceeds tax and local relief formula
Summary
The Senate Committee on Taxes adopted an author’s amendment and recommended Senate File 2530 to pass April 29; the bill would impose a gross‑proceeds tax on helium, carbon dioxide and hydrogen and direct substantial shares to local governments, schools and a new property‑tax relief account.
The Senate Committee on Taxes on April 29 adopted an author's amendment to Senate File 2530 and recommended the bill to pass and be sent to the Committee on Finance. The bill would establish a new gross‑proceeds tax on helium, carbon dioxide and hydrogen extraction, set a distribution formula for proceeds, and create property‑tax relief for homeowners in areas affected by production.
Senator Grant Hauschildt (sponsor) described the bill as a comprehensive taxation and local relief package for a recent helium discovery near Babbitt and for other future gas production. The A21 amendment (author’s amendment) was adopted; the committee then deleted article 3 as part of the agreed path for the bill and moved the remaining articles forward. Committee staff confirmed the procedural path would keep the tax article in the taxes committee and send the remaining articles to the finance…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
