Louisiana Severance Tax Act, Amendment 4 (2008)
|Amendment 4 (2008)|
Election Results via:Louisiana Secretary of State
The purpose of the amendment was to increase the sharing of severance taxes to offset the increased traffic and destruction of roads in the areas where oil and gas are extracted. Currently, each parish governing authority receives one-fifth of the severance tax on all natural resources other than sulphur, lignite, or timber severed or produced in the parish. Thirty of Louisiana's sixty-four parishes stand to benefit from the severance tax sharing plan, though it is anticipated that only the top 18 producing parishes will see the full benefit of the increase.
If it had passed, the measure would have:
- Amended Article VII of the Louisiana Constitution to increase the amount of the state's severance tax that is allocated to parishes (counties) where oil and gas are extracted to $2.85 million from $850,000, with at least half of the increased revenue to parishes going into transportation needs.,
- Required that at least half of any increased funding received by the affected parishes would go to transportation needs.
- Required revenues resulting from extraction in the Atchafalaya Basin, in the amount of 50%, are to be reserved for basin projects.
- Been phased in beginning in 2009.
- Louisiana 2008 Ballot Measures Guide
- Louisiana 2008 Ballot Measures Election Results
- 2008 Louisiana Ballot Measures