Natural Resources Severance Tax Act of 1984

Summary

Natural Resources Severance Tax Act of 1984 - Title I: Severance Tax on Oil, Natural Gas, and Coal - Amends the Internal Revenue Code to impose an excise tax on: (1) domestic crude oil sold by a producer; (2) domestic natural gas sold by a producer; and (3) domestic coal sold by a producer. Sets the amount of such taxes at: (1) $2.80 per barrel of domestic crude oil; (2) 16 cents per 1,000 cubic feet of domestic natural gas; and (3) $2.00 per ton of domestic coal. Provides that no domestic crude oil, natural gas, or coal and no producer of any such oil, gas, or coal shall be exempt from such excise taxes. Title II: Limitation on Amount of State Severance Taxes on Crude Oil, Natural Gas, and Coal Entering Interstate Commerce - Limits the amount of severance taxes which may be imposed by States on oil, natural gas, and coal. Sets such limit at the amount of the costs incurred by a State which are directly attributable to the production within the State of crude oil, natural gas, or coal. Allows the Attorney General or any person who pays a severance tax to bring a civil action in a district court of the United States in order to enforce such limitation.

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1 official file

• Introduced in House

  summary · EN · 2 October 1984

  Open at official source

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