Four takeaways from the Ohio House’s approval of an oil and gas severance tax overhaul

The Ohio House of Representatives on Wednesday passed a sweeping overhaul of the state’s severance tax on oil and gas fracking after bumping up local governments’ cut of the proceeds.

Under the bill, which passed 55-35, Ohio would impose a 2.5 percent severance tax on horizontal oil and gas drilling, which has ramped up in the Marcellus and Utica shale formations that run deep underneath the eastern part of the state.

via Four takeaways from the Ohio House's approval of an oil and gas severance tax overhaul | cleveland.com.

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