The Independent Fiscal Office Thursday released its updated Act 13 drilling impact fee report and projections for next year which concluded revenues could increase from $8.7 million to $49 million depending on the price of natural gas and how many new gas wells are “spud” or put into production.
This year the drilling impact fee resulted in $173.2 million in revenue, the lowest since the fee started to be collected in 2013-- $225.7 million.
The projections by IFO say the fee could yield from $181.9 million to $222.2 million, nearly record revenue.
The Act 13 fee program has been hit with an adverse Commonwealth Court decision in March which would reduce Act 13 fee revenue another $16 million per year. The PUC appealed the ruling in April and Rep. Pam Snyder (D-Fayette) introduced House Bill 1283 to fix the program legislatively, if needed.
Click Here for a copy of the IFO study.
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