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Sen. Smith: Coal Severance Deficit Threatens Coal Counties - KYMT-TV

Dec 18th, 2012

HAZARD, Ky. (WYMT) - With coal revenues still low in the Commonwealth, state lawmakers are predicting a major deficit in coal severance dollars. A meeting was held today in Hazard to discuss options for coal-producing counties.

Senator Brandon Smith and Representative Fitz Steele say coal severance receipts are $88 million short of projections.

"Obviously these things are tremendously short," said Smith. "A lot of that stuff's because the numbers that we were given originally aren't true, and a lot of that's because the coal companies have shut down. There's less coal on the market so the sales are down."

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