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Coal Tax Credit Under Fire Again This Year

February 26th, 2015 by WCBC Radio

Another year and yet another effort by some down state lawmakers to repeal the coal tax credit. The annual battle over the state’s mined coal tax credit will be joined by the Allegany County Commissioners who believe the credit is essential to the county’s coal mining industry. For the past several years, some legislators have made so-far unsuccessful repeal efforts. A hearing on House Bill 723 was scheduled for this week. Basically, the credit allows Public service companies and a few other designated companies to receive a $3 per ton credit for purchasing Maryland-produced coal.  The intent of the law is to encourage purchase of Maryland coal by Maryland companies. The commissioners are not alone in the fight, having a powerful ally in Comptroller Peter Franchot who recently pledged to local business leaders to stand behind western Maryland in this contest…





 

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