Ohio HB819 revises severance tax rates on oil and natural gas, creates an electric bill credit fund, and allocates tax revenue.

Ohio HB819 modifies the severance tax on oil and natural gas, creating a new electric bill credit fund to reduce Ohioans' electric bills. The bill sets new tax rates for coal, salt, limestone, dolomite, sand, gravel, natural gas, and oil. It allocates tax revenue to the Ohio energy credit fund, the oil and gas well fund, and the mining regulation and safety fund. The Public Utilities Commission of Ohio will implement the electric bill credit, providing $150 to each residential customer's electric bill.

Ohio HB819 revises severance tax rates on oil and natural gas, creates an electric bill credit fund, and allocates tax revenue.

Ohio HB819 modifies the severance tax on oil and natural gas, creating a new electric bill credit fund to reduce Ohioans' electric bills. The bill sets new tax rates for coal, salt, limestone, dolomite, sand, gravel, natural gas, and oil. It allocates tax revenue to the Ohio energy credit fund, the oil and gas well fund, and the mining regulation and safety fund. The Public Utilities Commission of Ohio will implement the electric bill credit, providing $150 to each residential customer's electric bill.