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Local Officials Work to Maintain Coal Tax Credit

March 18th, 2013 by WCBC Radio

Efforts by state lawmakers from Allegany and Garrett counties proved successful once again as another attempt to repeal a tax credit that rewards electric companies for buying Maryland coal has been defeated. Republican Delegate Herb McMillan of Anne Arundel County introduced the bill in the General Assembly session back in January. The tax credit is set to expire in 2021. Repealing it before then would increase state revenues by several million dollars a year. The Maryland Coal Association says coal mining employs about 600 people directly and 3,000 more in spinoff jobs.  The American Coal Foundation says the direct and indirect effects of coal production pump more than $2 billion a year into Maryland’s economy. The same bill died in committee last year despite support from Gov. Martin O’Malley’s administration- and was shot down again this year again although it still had the backing of the governor according to Allegany County Commissioner Bill Valentine…

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