CHARLESTON, W.Va - Gov. Earl Ray Tomblin, today, signed Senate Bill 1002, which dedicates an additional percentage of coal severance tax revenues to the counties where the coal was mined.

 

"West Virginia is enjoying a stable economy at a time of uncertainty elsewhere in the nation," Gov. Tomblin said. "This dedicated revenue will allow the counties whose natural resources are contributing to the health of our state's economy a greater share of the benefits those resources provide."

 

Senate Bill 1002 reallocates revenue from the coal severance tax in 1 percent increments over the next five years, beginning July 1, 2012. Ultimately an additional 5 percent will be directed to the counties by fiscal year 2017. The revenue dedicated by legislation will be placed in a special fund called the Coal County Reallocated Severance Tax Fund to be used on economic development and infrastructure projects. Senate Bill 1002 caps the amount distributed to the counties at $20 million per year.

By Mannix Porterfield Register-Herald Reporter

CHARLESTON — Boone County leads the league when it comes to the new recipe for West Virginia’s coal severance pie, in line to get the biggest slice — $671,481 — next year.

By fiscal 2017, the final year of the annual 1 percent phase-in over five years, Boone is projected to have received $3,357,403, based on production figures.

Under a law approved Tuesday by acting Gov. Earl Ray Tomblin, coal-producing counties will start sharing the initial 1 percent of the tax that now is poured directly into the general revenue account.

Once the five-year period ends, the counties will get the first 5 percent thereafter, with an annual $20 million cap.

The difference actually begins next year, at the start of the new fiscal year, and Boone County will take in 16.8 percent.

http://www.register-herald.com/local/x531751935/Boone-Marshall-and-Logan-tops-in-coal-severance

Former football coach addresses Moundsville event

By JOSELYN KING
MOUNDSVILLE - Former West Virginia University head football coach Don Nehlen thinks those in Washington who regulate coal need to come to West Virginia and get to know the industry better.
He also believes the key to the industry's survival is voting out President Barack Obama in 2012.
Nehlen - who now serves as spokesman for the "Friends of Coal" organization - was among those speaking during the "Rally in the Valley for Coal" Thursday night at Riverfront Park in Moundsville.

It was noted during the rally that the U.S. coal industry is actually booming, as producers are exporting much of their product to foreign countries that continue to use coal.

"It makes no sense," Nehlen told the crowd. "Everybody wants our coal. We're one of the few countries where our natural resources are a liability, and that's ridiculous.

"I'm just a football coach, I don't know how to turn things around," he continued. "But I can vote that guy (President Barack Obama) out of the White House. That's a start."

By The Associated Press
MORGANTOWN, W.Va. -- A Chinese delegation joined officials at West Virginia University on Friday in formalizing a partnership to develop so-called "clean coal'' technologies.

WVU said the agreement to share research was signed Friday in Morgantown.

by Jared Hunt

Daily Mail Capitol Reporter

CHARLESTON, W.Va. -- The number of West Virginians working or looking for work has dropped to its lowest level since 1993, according to new data from Workforce WV.

Last week, state officials touted that unemployment fell to 7.4 percent in July, down from 8.6 percent the month before. They pointed to the growth of 1,700 private sector jobs as a good sign for the economy.

However, if you dig into the numbers a bit further, the news is not so good.

For starters, the 7.4 percent rate is not seasonally adjusted, meaning it doesn't account for some of the regular seasonal trends in the jobs market.

The state's unemployment rate tends to rise in the winter months and fall in the summer months. Adjusting for seasonal factors helps reduce the noise in labor market data and helps bring out the broader overall direction of unemployment in the state.