A bill that would use a portion of tax revenues from natural gas production to assist counties in converting vehicle fleets to compressed natural gas was approved Thursday by the Senate Appropriations Committee.
House Bill 2954 proposes to use 5 percent of tax revenues on natural gas production to create a revolving fund that counties could tap for reimbursement of money spent converting their vehicle fleets to use compressed natural gas.
Senate author Kyle Loveless, R-Oklahoma City, said if the bill were to be adopted as written it would result in a loss to the general revenue fund of about $15 million. However, he said negotiations are underway and the proposed percentage that would go to the new fund could be reduced.
The bill calls for the conversion money to be divided equally among the 77 counties, regardless of size or population.
The bill passed the Senate Appropriations Committee by a 12-2 vote and is awaiting action by the full Senate.