Max Baucus: “I speak today as an original cosponsor of S. 455, the Payments in Lieu of Taxes Act, as introduced by Senator Hatfield.…”

“I speak today as an original cosponsor of S. 455, the Payments in Lieu of Taxes Act, as introduced by Senator Hatfield. This legislation is responsive to the needs of rural communities across the Nation. In short, it proves to rural communities across the country that Uncle Sam can be a good neighbor. It is also fiscally responsible. Many counties in the West have a large portion of their land base in Federal ownership. In my State of Montana, nearly 30 percent of the land base is in Federal ownership. In the past, these communities have counted on Federal lands to provide jobs and an adequate tax base. Mineral development, oil and gas drilling, and logging are activities that have historically occurred on public lands and that provided high paying jobs and a steady flow of tax revenue to rural counties. This bill amends the Payments in Lieu of Taxes Act of 1976, which was designed to compensate local governments for the presence of tax-exempt Federal lands within their boundaries.”