Report Says State Could Gain $7.5 Billion from Natural Gas Revenues - KAIT Jonesboro, AR - Region 8 News, weather, sports

Little Rock, AR

Report Says State Could Gain $7.5 Billion from Natural Gas Revenues

JANUARY 4, 2007 - Posted at 4:22 p.m. CST

 

LITTLE ROCK, AR - Reports by nonprofit groups say Arkansas could gain between $4.5 billion and $7.5 billion in revenue over the next 30 years if it changes the way natural gas production is taxed.

Arkansas Advocates for Children and Familes and the Southern Good Faith Fund released two reports focusing on parental revenues from the Fayetteville Shale.

Arkansas Advocates Executive Director Rich Huddleston says the group is not pushing for an increase in the tax during the legislative session that begins Monday.  But Huddleston says the state's current method of taxing natural gas production is out of date.  The group's report says Arkansas' tax is one of the few in the country that taxes volume instead of market price.

The report says current severance tax would generate about $120 million in revenue over 30 years from the Fayetteville Shale production. 

The Southern Good Faith Fund proposes using increased revenue from natural gas severance taxes for higher education projects.

(Copyright 2007 by The Associated Press.  All Rights Reserved.)

  • Region 8 News</span><a class="customMoreLink" href="/Global/category.asp?C=4391" target="_top">More >></a>Region 8 NewsMore>>

  • Senate approves Big River Steel second phase bill

    Senate approves Big River Steel second phase bill

    Wednesday, March 29 2017 5:12 PM EDT2017-03-29 21:12:34 GMT
    Wednesday, March 29 2017 9:16 PM EDT2017-03-30 01:16:06 GMT
    Big River Steel grand opening (Source: KAIT)Big River Steel grand opening (Source: KAIT)

    A bill that was approved by the Arkansas State Senate Wednesday will allow Mississippi County to compete for a $900 million economic development project that supporters say will make the county the "21st Century version of Pittsburgh."

    A bill that was approved by the Arkansas State Senate Wednesday will allow Mississippi County to compete for a $900 million economic development project that supporters say will make the county the "21st Century version of Pittsburgh."

  • Mother turns to non-profit to help child

    Mother turns to non-profit to help child

    Wednesday, March 29 2017 8:33 PM EDT2017-03-30 00:33:13 GMT
    Wednesday, March 29 2017 9:11 PM EDT2017-03-30 01:11:02 GMT
    (Source: KAIT)(Source: KAIT)

    A mother in Jonesboro turned to a non-profit organization in town with the hope of leading her son on the right path.

    A mother in Jonesboro turned to a non-profit organization in town with the hope of leading her son on the right path.

  • City warns of phone scam

    City warns of phone scam

    Wednesday, March 29 2017 7:08 PM EDT2017-03-29 23:08:52 GMT
    Wednesday, March 29 2017 9:08 PM EDT2017-03-30 01:08:23 GMT
    (Source: Raycom Media)(Source: Raycom Media)

    Officials in Lawrence County are asking people to be careful about a possible scam attempt involving a tourism group. 

    Officials in Lawrence County are asking people to be careful about a possible scam attempt involving a tourism group. 

Powered by Frankly