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Bill > HB4025
WV HB4025
WV HB4025Providing exemption to severance tax for severing rare earth elements and other critical minerals
summary
Introduced
01/12/2022
01/12/2022
In Committee
03/10/2022
03/10/2022
Crossed Over
02/17/2022
02/17/2022
Passed
Dead
03/12/2022
03/12/2022
Introduced Session
Potential new amendment
2022 Regular Session
Bill Summary
Providing exemption to severance tax for severing rare earth elements and other critical minerals
AI Summary
This bill provides an exemption from the severance tax for five years, starting on July 1, 2022, for the severing, extracting, and production of rare earth elements and critical minerals. Rare earth elements are defined as yttrium, lanthanum, cerium, and several other elements, while critical minerals include aluminum, antimony, arsenic, and over 30 other minerals. The bill aims to incentivize the production of these important resources within the state.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (11)
Bill Anderson (R)*,
Brent Boggs (D),
Jordan Bridges (R),
Adam Burkhammer (R),
Ed Evans (D),
John Kelly (R),
Zachery Maynard (R),
Tony Paynter (R),
Dave Pethtel (D),
Clay Riley (R),
Mark Zatezalo (R),
Last Action
Communicated to Senate (on 03/12/2022)
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