Pennsylvania HB2129 repeals the expiration of the unconventional gas well fee and imposes a natural gas severance tax with penalties for.

Pennsylvania HB2129 repeals the expiration of the unconventional gas well fee, ensuring it remains in effect indefinitely. The bill also imposes a natural gas severance tax on producers, calculated based on the annual market value of natural gas per unit severed. It sets different additional tax rates depending on the volume of natural gas exports from the United States. The bill includes provisions for tax assessments, collection, and enforcement, including the imposition of liens and penalties for non-compliance. It also mandates recordkeeping and meter requirements for producers.

Pennsylvania HB2129 repeals the expiration of the unconventional gas well fee and imposes a natural gas severance tax with penalties for.

Pennsylvania HB2129 repeals the expiration of the unconventional gas well fee, ensuring it remains in effect indefinitely. The bill also imposes a natural gas severance tax on producers, calculated based on the annual market value of natural gas per unit severed. It sets different additional tax rates depending on the volume of natural gas exports from the United States. The bill includes provisions for tax assessments, collection, and enforcement, including the imposition of liens and penalties for non-compliance. It also mandates recordkeeping and meter requirements for producers.