Kentucky HB133 amends severance tax laws to exempt certain minerals and materials from taxation.
Kentucky HB133 modifies severance tax regulations by exempting fluorspar, lead, zinc, and barite from taxation, as well as rock, limestone, or gravel used for privately maintained but publicly dedicated roads or limestone used for agricultural purposes. The bill also updates definitions for terms such as "natural resource," "severing," "gross value," and "processing." These changes aim to clarify and adjust the scope of severance taxes in Kentucky.
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