LITTLE ROCK, AR - Attorney General Dustin McDaniel today certified a proposal November ballot measure to raise Arkansas' severance tax on natural gas production.
McDaniel's certification clears the way for former utility executive Sheffield Nelson to gather the 61,974 voter signatures needed to put it on the November ballot.
Nelson's proposal would raise the state's severance tax to 7 percent of the market value of natural gas at the time of extraction. The proceeds would go to highways, county and city aid, and higher education.
A former Arkla executive and Republican gubernatorial candidate, Nelson has said the tax hike would raise between $60 million and $100 million annually.