California Severance Tax on Oil and Gas (2014)

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A California Severance Tax on Oil and Gas (#13-0002), an initiated state statute, was approved for circulation in California as a contender for the November 4, 2014 ballot.

Its sponsors, however, did not submit any signatures to election officials by the deadline.

If the initiative had qualified for the ballot and been approved by the state's voters, it would have:

  • Imposed a 9.5% tax on the value of oil and natural gas extracted in California.
  • During the first ten years after enactment, allocated revenues as follows:
  • 60% to education for classroom instruction (split equally between UC, CSU, community colleges, and K-12 schools).
  • 22% to clean energy projects and research.
  • 15% to counties for infrastructure and public health and safety services.
  • 3% to state parks.
  • Thereafter, allocated 80% to education, 15% to counties, and 5% to state parks.
  • Prohibited passing the tax on to consumers through higher fuel prices.

Supporters of the measure referred to it as "The California Modernization and Economic Development Act of 2013".

A different group filed the language for a somewhat similar measure, California Tax on Oil and Natural Gas. No signatures were filed for that effort, either.

Text of measure

Ballot title:

Tax on Oil and Natural Gas. Revenues to Education, Clean Energy, County Infrastructure and Services, and State Parks. Initiative Statute.

Official summary:

"Imposes 9.5% tax on value of oil and natural gas extracted in California. During first ten years, allocates revenues: 60% to education for classroom instruction (split equally between UC, CSU, community colleges, and K-12 schools); 22% to clean energy projects and research; 15% to counties for infrastructure and public health and safety services; 3% to state parks. Thereafter, allocates 80% to education, 15% to counties, and 5% to state parks. Prohibits passing tax on to consumers through higher fuel prices."

Fiscal impact statement:

(Note: The fiscal impact statement for a California ballot initiative authorized for circulation is jointly prepared by the state's Legislative Analyst and its Director of Finance.)

"Increased state revenues from a new oil and gas severance tax of $1.5 billion to $2 billion per year initially (which could either grow or decline over time), to be spent on public schools, colleges, and universities; clean energy research and development; local infrastructure projects; and state parks."

Path to the ballot

See also: California signature requirements

External links

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