An Act relating to the taxation of certain natural gas pipeline property; relating to municipal taxation limitations; establishing an alternative volumetric tax on natural gas throughput; relating to the allocation of revenue from the alternative volumetric tax; and providing for an effective date.

Summary

The bill exempts new natural‑gas pipeline and liquefied natural gas facilities owned or financed by the state from ad valorem taxes while they are under construction, then imposes a tax based on gas throughput. The volumetric tax starts at $0.06 per 1,000 cubic feet and increases 1 % each year, with revenues divided between the state and any municipalities where the property is located. It also caps how much local governments may tax these projects and sets reporting, penalty, and sunset rules.

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