PENN LIVE: …The tax, which Wolf said was modeled after one in place in West Virginia, was a key component of his gubernatorial campaign.
In addition to the 5 percent tax on the value of the gas at the wellhead, the proposal would charge producers 4.7 cents per thousand cubic feet of volume. It would include some exemptions for gas given away for free, extracted from low-producing wells and wells brought back into production.
Wolf said the severance tax is expected to raise $1 billion per year and would take the place of the state’s existing impact fee, which has raised about $630 million since 2008… (more)
