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Committee backs two‑year Energy Dominance Fund to redirect severance tax for large projects
Summary
The committee recommended passage of Senate File 123, creating a two‑year fund that would divert a portion of the 1% severance tax (roughly $105 million anticipated) into grant and loan programs for large energy projects; the measure passed the committee unanimously with amendments.
Lawmakers on the minerals committee advanced a bill to create a temporary Energy Dominance Fund that would redirect a portion of severance tax receipts into grants and loans to finance capital‑intensive energy projects.
Sponsor testimony framed the measure as a way to leverage minerals tax dollars already paid by industry to accelerate work on high‑cost projects — from enhanced oil recovery and coal units to uranium conversion and rare‑earth processing — while capital and permitting windows…
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