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Kentucky's Coal Severance Tax

Overview of the tax and how it could help finance development and transition in the Kentucky coal fields

Jason Bailey

on 19 April 2013

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Transcript of Kentucky's Coal Severance Tax

Investing in a Future for Appalachian Kentucky: What Should We Do? Tax on the value of coal severed or processed in the state Declining EKY coal production What Is It? What is its future? 4.5% of gross value, minimum of 50 cents a ton Off the middle programs County Revenue-Sharing (LGEAF) Economic Development (LGEDF) Revenue is collected Off the top programs General Fund Multi-county fund Single-county fund Legislator-identified programs and projects Decreasing EKY severance tax revenues 1972 2012 1992 How has it been used? Raised $298 million in 2012 2000 1992 2000 Growth of earmarks Regional industrial parks Only 7.6 percent of $2.7 billion went back to coal counties Local Revenue-Sharing (LGEAF) Economic Development (LGEDF) Revenue is collected General Fund Multi-county fund Single-county funds 50% 50% 35% 15% <50% <15% <35% Identify resources Develop a plan(s) Create a democratic structure The Coal Severance Tax "Essentially, counties can only put their new coal severance tax money into land or buildings. . . It doesn't matter that the state is littered with empty parks. . . Nor does it make any difference that many rural communities have found that leadership development or worker training or technical aid to existing businesses are infinitely more profitable than pouring money into industrial parks."
Bill Bishop, Lexington Herald-Leader, October 20, 1993
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