Ohio House of Representatives Vote in Favor of Oil, Natural Gas Tax
On Wednesday, the Ohio House of Representatives voted in favor of a 2.5% tax on oil and natural gas from horizontal wells.
According to the bill, only 17.5% of tax revenue would stay local, and the rest would go to the state.
Belmont County Commissioner Ginny Favede isn't happy about the distribution of funds.
She says the growing local economy needs the money for improvements.
"The money is necessary for water, sewer upgrades. We have a lot of economic development going on in the area and we're certainly grateful for that, but the truth of it is is that it costs money and its money that we don't have," Favede said.
The bill will be considered by the Ohio State Senate. Favede says she doesn't think a decision to keep tax revenue local is out of the question, as a decision to keep a majority of casino tax revenue local, was made several years ago.