6/4/09-At the urging of Gov. Jim Doyle, the Legislature’s Budget Committee voted to advance a provision to the Assembly floor that would apply a franchise fee on oil companies doing business in the state. The projected $260 million in revenue during the next two years would be used to pay for roads.
The tax is a percentage based on revenues of the oil companies. Companies would be prohibited from passing the tax along but even supporters aren’t sure whether that could be enforced.
The Assembly could vote on the proposal as early as next week. If approved there, it would advance to the Senate for further consideration.