A bill to amend the Internal Revenue Code of 1954 to limit the amount of severance taxes imposed by States on oil, natural gas, and coal.
Severance Tax Equity Act of 1982 - Limits the amount of severance taxes imposed by States on oil, natural gas, and coal. Sets such limit at the amount of costs incurred by a State which are directly attributable to the production within the State of crude oil, natural gas or coal.
Sets forth enforcement procedures. Allows the Attorney General or any person who pays a severance tax to bring a civil action in a district court of the United States in order to enforce such limitation.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Finance requested executive comment from OMB; Treasury Department; Energy Department.
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