Legislative panel to discuss severance tax tomorrow

The Joint Committees on Revenue and Taxation will debate the economic impact of the Fayetteville Shale and the fiscal impact of the proposed severance tax tomorrow at the Capitol. The meeting will take place at 2:00 p.m. in Rm. 149.

Keep in mind that even though an increase in the severance tax requires an approval of three-quarters of both chambers, it still only requires a mere majority to clear the panel and make its way to the floor for debate. While reports indicate the proposal's support is currently somewhere between a majority and three-quarters of the Legislature, tomorrow's meeting will be the first public legislative debate on this issue and will offer a gauge of its popularity ahead of the governor's decision on whether to call a special session or not. Here's the agenda for tomorrow's meeting.

Here are a few local articles published on the severance tax this morning:
• Wills says 3/4 of Ark. House likely to support tax hike [AP, ADG, Stephens]
• Anderson: Severance-tax proposal ‘half right’ [BCDR]
• Hendren wants views on severance tax [BCDR]
• Lawmakers asked to help with road funding (scroll down) [3/18 Jonesboro Sun]
• Minority stops fair tax on gas [Arkansas Leader Editorial]

Elsewhere, a bill to increase the severance tax on coal has been filed in the Tennessee Legislature. Governor Bredesen, a supporter of the bill, says of the measure that "Tennessee shouldn't be a cheap place to mine." Here's more from the Knoxville News Sentinel.