Posted: Wednesday, March 5, 2008 12:00 am
Lawmakers approve campaign finance bill
CHEYENNE - The House and Senate came to a compromise Tuesday on how much a political action committee can contribute to a candidate's campaign and the penalty for not filing a campaign finance report.
House Bill 9 has been amended so that PACs can contribute up to $2,900 to an individual candidate's campaign for a non-statewide office. The bill also was amended to bring the penalty for not filing a campaign finance report back down to $10,000.
The House version originally set the contribution limit at $3,500 and the penalty at $10,000. The Senate changed the PACs contribution limit to $2,300 and raised the penalty to $25,000.
Rep. Pete Illoway, R-Cheyenne, said Tuesday a committee made up of members from both chambers agreed to meet in the middle on the PAC contributions. The panel also agreed on the penalty in the original House bill.
The bill would raise campaign contribution limits for individuals, set limits to political action committees' contributions, and lessen the penalties for failing to file a campaign finance report.
The bill will go to the governor for his signature.
Senate passes tax on helium
CHEYENNE - The Senate passed a bill Tuesday that would tax helium extracted from the ground in Wyoming.
House Bill 133 will need the House's approval of amendments and the governor's signature before becoming law.
Gov. Dave Freudenthal endorsed the bill in his "State of the State" address at the beginning of the session and is expected to sign it into law.
Ed Schmidt, the director of the state Department of Revenue, said the bill would impose a 6 percent severance tax on helium extracted from the ground and could bring in more than $2 million in additional annual tax revenues for the state.
Helium is currently the only extracted mineral commodity that Wyoming does not tax.
Exxon Mobil, one of the largest global oil and gas producers, questioned whether helium was taxable last year in a lawsuit it won against the state.
In the lawsuit, the Wyoming Supreme Court ruled Exxon Mobil didn't have to pay state taxes on the helium. Exxon Mobil leases the right to develop the gas from the federal government.
Exxon Mobil has not paid taxes on helium extracted in Wyoming since 2004.