February 16, 2006, Introduced by Reps. Nofs, Stahl, Schuitmaker, LaJoy, Stewart, David Law, Accavitti, Moolenaar, Wenke, Jones, Green, Moore, Marleau, Hansen, Kooiman, Hunter, Booher, Huizenga, Mayes, Farrah, Steil, Caswell, Dillon, Palsrok, Farhat, Vander Veen, Kahn, Proos, Clemente, Polidori, Plakas, Hune, Hildenbrand, Gaffney, Nitz, Alma Smith, Brandenburg, Rocca, Pearce, Emmons, Ball, Caul, Newell, Gosselin, Sheen, Taub, Shaffer and Pastor and referred to the Committee on Energy and Technology.
A bill to amend 1929 PA 48, entitled
"An act levying a specific tax to be known as the severance tax
upon all producers engaged in the business of severing oil and gas
from the soil; prescribing the method of collecting the tax;
requiring all producers of such products or purchasers thereof to
make reports; to provide penalties; to provide exemptions and
refunds; to prescribe the disposition of the funds so collected;
and to exempt those paying such specific tax from certain other
taxes,"
by amending section 14 (MCL 205.314), as amended by 1994 PA 307.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
14. (1) All taxes shall accompany the report provided
for
in section 2. Except as provided in subsection (2), all All
taxes, penalties, or costs paid to the state treasurer under this
act shall be paid into the state treasury and shall be credited as
follows:
(a) Two percent of the revenue received during each fiscal
year, but not less than $1,000,000.00 shall be credited to the
orphan
well fund created in the orphan well fund act section
61602 of the natural resources and environmental protection act,
1994 PA 451, MCL 324.61602. However, whenever the unexpended
balance of the orphan well fund exceeds $3,000,000.00, further
revenues shall not be credited to the orphan well fund under this
subdivision until the unexpended balance of the orphan well fund
becomes less than $3,000,000.00.
(b) The next $60,000,000.00, less the amount described in
subdivision (a), each fiscal year shall be credited to the general
fund and shall be available for any purpose for which the general
fund is made available by law.
(c) The next $6,000,000.00 each fiscal year shall be credited
to the home heating credit fund created in the home heating credit
fund act.
(d) (b)
The remaining revenue received during
each fiscal
year
that is not allocated pursuant to subdivision (a) shall be
credited
to the general fund of the state and shall be available
for
any purpose for which the general fund is made available by law
amount as provided in section 14a.
(2)
The revenue collected under subsection (1) in excess of
$16,000,000.00,
shall be deposited in the general fund and shall be
allocated
for the payment of credits for heating fuel costs
provided
under section 527a of Act No. 281 of the Public Acts of
1967,
being section 206.527a of the Michigan Compiled Laws, for the
fiscal
year ending September 30, 1980 only.
Enacting section 1. This amendatory act does not take effect
unless all of the following bills of the 93rd Legislature are
enacted into law:
(a) Senate Bill No.____ or House Bill No. 5687(request no.
04929'05 a *).
(b) Senate Bill No.____ or House Bill No. 5688(request no.
05818'06).