Relating to a fee on the importation and exportation of natural gas for coastal protection.
Impact
The implementation of HB4668 is set to create a new revenue stream dedicated to coastal protection efforts. By mandating a fee on natural gas transactions, the state aims to facilitate critical funding for environmental projects aimed at preserving and protecting coastal areas that face significant risks from erosion and other environmental challenges. The bill outlines specific procedures for fee collection, reporting requirements for those affected, and stipulates penalties for non-compliance, thereby establishing a robust regulatory framework for enforcement.
Summary
House Bill 4668 introduces a fee on the importation and exportation of natural gas within the state of Texas to fund coastal protection initiatives. The bill imposes a fee of 25 cents per million BTUs of natural gas purchased that is imported or exported. This fee structure is intended to generate revenue specifically for the Coastal Protection Fund, which is crucial for addressing issues related to coastal erosion and environmental sustainability in the region.
Contention
The bill has generated discussion regarding its potential economic effects on the natural gas industry. Proponents argue that the environmental benefits justify the imposition of such fees, emphasizing the necessity of funding for coastal protection. Conversely, critics may express concerns about the additional costs imposed on natural gas purchases, possibly affecting energy prices and the competitive landscape for businesses involved in the natural gas sector. The balance between environmental responsibility and economic viability remains a point of contention as the bill progresses.
Relating to state and municipal motor fuel taxes; providing civil penalties; creating criminal offenses; requiring occupational licenses; authorizing the imposition of taxes; providing for increases and decreases in the rates of taxes.
Relating to agreements authorizing a limitation on taxable value of certain property to provide for the creation of jobs and the generation of state and local tax revenue; authorizing fees; authorizing penalties.
Relating to the issuance of a permit by the commissioner of the General Land Office for a wind power facility on coastal public land; authorizing a fee; providing a civil penalty.
Relating to the issuance of a permit by the commissioner of the General Land Office for a wind power facility on coastal public land; authorizing a fee; providing a civil penalty.
Relating to the authorization, licensing, and regulation of casino gaming and sports wagering in this state, to the creation, powers, and duties of the Texas Gaming Commission, to the support of the horse racing industry and reform of horse racing and greyhound racing, and to other provisions related to gambling; imposing and authorizing administrative and civil penalties; imposing taxes; imposing and authorizing fees; requiring occupational licenses; creating criminal offenses.
Relating to the reduction and plugging of orphaned oil and gas wells; providing for the imposition of a fee and an exemption from certain taxes and fees.