Mountain Association for Community Economic Development

Government
2:56 pm
Wed March 14, 2012

Report Urges Policymakers to Consider Long-Term Sustainability of Coal Severance Fund

State lawmakers are considering a bill that would designate some coal severance tax money to scholarships for coalfields residents; the measure has already passed the House. But a report by a non-profit group warns that Kentucky needs to think about the long-term future of the state’s coal severance fund. Coal producers pay a tax of four and a half percent value of coal that’s sold into the state’s coal severance fund. Half of that money goes to Kentucky’s general fund, and the other half goes to various programs in coal-producing counties.

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