That is $22.9 million, or 7.1 percent, more than the same month a year ago. Motor vehicle taxes produced $56.7 million, up by $6.9 million, or 13.8 percent, more than the previous year.
Gross production taxes on oil and natural gas generated $62 million in April, a decrease of $16.5 million, or 21.1 percent, compared with the same month a year ago.
Setting the budget
State budget officials used a price of $3.64 per 1,000 cubic feet in determining revenue expectations for the 2013 fiscal year, which begins July 1. Budget officials, who used a figure for $4.10 per 1,000 cubic feet for this fiscal year, originally had set a rate of $4 per 1,000 cubic feet for the next fiscal year but reduced it earlier this year. Natural gas prices have hovered around $2 per 1,000 cubic feet recently.
The gross production tax on natural gas is projected to bring in about $188 million, or 3 percent, of the $6.6 billion lawmakers will appropriate for the 2013 fiscal year.
Miller said natural gas prices, hurt by a large amount of supply caused partially by a mild winter across the country, may increase as utility companies switch from coal to natural gas to fuel power plants.
“If they continue to switch to the low-cost natural gas, that's got to be good for prices going forward,” he said.
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