Mon, May 28, 2012, 6:02 PM EDT - U.S. Markets closed for Memorial Day

Pa. gas-drilling bill would yield estimated $190M

Pa. gas drilling bill headed toward votes would require $190M industry fee in 1st year

HARRISBURG, Pa. (AP) -- State lawmakers expect an initial, procedural vote on a bill to require Pennsylvania's booming natural gas industry to pay fees for state and local government programs.

House and Senate leaders expected a conference committee vote Monday evening before the bill heads to the chambers for up-or-down floor votes as early as Tuesday.

Negotiators say the total fee paid on all Marcellus Shale wells would total $190 million in the first year, rising in ensuing years as more wells are drilled.

The proposal is a result of weeks of talks between leaders of the Republican-controlled state Legislature and Gov. Tom Corbett, a fellow Republican.

Democrats say the bill falls short on forcing the industry to pay its fair share, protecting clean air and water and allowing municipalities to control drilling activity.

 

1 comment

  • Hoi Polloi  •  3 months ago
    Will Taxes on PA land & home owners be lowered?
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Trading Center

Yahoo! Finance on Facebook

  YAHOO! FINANCE ON TWITTER