FORTY-EIGHTH LEGISLATURESB 220/a
FIRST SESSION, 2007
March 14, 2007
Madam President:
Your FINANCE COMMITTEE, to whom has been referred
SENATE BILL 220
has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:
1. On page 1, line 11, strike "ELIMINATING" and insert in lieu thereof "PHASING OUT" and strike "REPEALING" and insert in lieu thereof "PROVIDING FOR A DELAYED REPEAL OF".
2. On pages 2 and 3, remove all brackets and line-throughs and strike all underscored material.
3. On page 2, line 2, strike "The" and insert in lieu thereof "Until June 30, 2007, the".
4. On page 2, line 9, after "coal", insert "imposed pursuant to Subsection B of this section".
5. On page 3, between lines 4 and 5, insert the following new subsections:
"D. From July 1, 2007 until June 30, 2008, the severance tax on coal shall be increased by a surtax, hereby imposed. The surtax shall be imposed on the unit of quantity of such product or natural resource at the following rates:
(1) surface coal, forty-eight cents ($.48); and
(2) underground coal, forty-seven cents ($.47).
E. From July 1, 2008 until June 30, 2009, the severance tax on coal shall be increased by a surtax, hereby imposed. The surtax shall be imposed on the unit of quantity of such product or natural resource at the following rates:
(1) surface coal, twenty-four cents ($.24); and
(2) underground coal, twenty-three cents ($.23).".
6. Reletter the succeeding subsection accordingly.
7. On page 3, line 20, before "REPEAL", insert "DELAYED".
8. On page 3, line 22, after "repealed", insert "effective July 1, 2009".
Respectfully submitted,
__________________________________
John Arthur Smith, Co-Chair
Timothy Z. Jennings, Co-Chair
Adopted_______________________ Not Adopted_______________________
(Chief Clerk) (Chief Clerk)
Date ________________________
The roll call vote was 6 For 0 Against
Yes: 6
No: 0
Excused: Carraro, Jennings, Rawson, Rodriguez
Absent: None
SB0220FC1 .169579.1