Fracking supporters announce well fees, tax rates
SPRINGFIELD – Backers of a measure to regulate high-volume gas and oil drilling in Illinois announced Thursday they have agreed on the fees and extraction taxes that drillers would pay to the state if lawmakers approve a plan to regulate the practice.
The rates were presented during a meeting of the House Finance and Revenue Committee, which is expected to vote on the measure today.
The proposal calls for industry operators to pay $13,000 per well upfront, with $11,000 going to the Illinois Department of Natural Resources and the remaining $2,000 going to the state’s Environmental Protection Agency.
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