Severance tax-uranium. |
03LSO-0170.C1 |
FISCAL NOTE (HB0015)
|
FY 2005 |
FY 2006 |
|
NON-ADMINISTRATIVE IMPACT |
|
|
|
Anticipated Revenue Decrease: |
|
|
|
BUDGET RESERVE ACCOUNT |
240,000 |
240,000 |
240,000 |
GENERAL FUND |
120,000 |
120,000 |
120,000 |
Source of revenue decrease:
Extension of severance tax incentive on uranium
Assumptions:
The severance tax rates on uranium production, as established by the current severance tax incentive in W.S. 39-14-505 are as follows:
Uranium Spot Market Price |
Tax applied |
$14.00 to $15.00 |
1 percent |
$15.01 to $16.00 |
2 percent |
$16.01 to $17.99 |
3 percent |
$18.00 or more |
4 percent |
The current severance tax incentive on uranium is in effect until March 31, 2003. This bill extends the current severance tax incentive until March 31, 2009.
The above estimates are based on October 2002 CREG projections.
The above estimates are based on the assumption that the uranium spot market price will remain below $14.00/pound through fiscal year 2006.
Prepared by: Dean Temte, LSO Phone: 777-7881
(information provided by Randy Bolles/Craig Grenvik,
Dept. of Revenue; phone 777-5237)