coal severance tax en Gov. Steve Beshear Concerned With Drop in Coal Severance Revenues <p>Gov. Steve Beshear says he's concerned about the declining revenues form the coal severance tax, echoing concerns raised by House Speaker Greg Stumbo.</p><p>Money from the tax on mined coal is used largely for state, county and city infrastructure projects -- specifically in coal mining areas like Eastern Kentucky.&nbsp;</p><p>“I am concerned about the coal severance receipts -- they are down, they’re down significantly. And that's because coal mining is down significantly, the tons of coal mined has dropped,” Beshear said.</p> Thu, 27 Dec 2012 17:33:03 +0000 Kenny Colston 3138 at Gov. Steve Beshear Concerned With Drop in Coal Severance Revenues Lull in Mining Means $88 Million Less in Revenue <p>A slowdown in Kentucky's mining industry is causing financial problems. Diminished severance tax revenue could force some planned construction projects in the coalfields to be postponed.</p><p>Revenue from the state's coal severance tax is plummeting, with mines shutting down and miners being laid off.</p><p>Deputy State Budget Director John Hicks told lawmakers today that coal tax revenue is projected at $245 million this year. That's $88 million less than was expected when lawmakers passed the budget less than five months ago.</p> Thu, 06 Sep 2012 19:17:25 +0000 The Associated Press 1570 at Lawmakers to Examine Coal Severance Fund <p>Kentucky lawmakers will be briefed next week on the state’s ailing coal severance tax fund.</p><p>The office of the state budget director will update the lawmakers of the fund’s future on Wednesday, during a regularly scheduled meeting of the interim committee on natural resources and environment.</p><p>The coal severance fund is made up of a tax collected on each ton of coal mined in Kentucky. But the coal industry has had a rough year, and officials are forecasting problems maintaining previous levels of revenue.</p> Fri, 31 Aug 2012 19:49:48 +0000 Kenny Colston 1521 at