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Nava and Torrico Draft Dueling Oil Tax Bills

Thursday, April 8, 2010
By Indy Staff

Assemblymember Pedro Nava—who was endorsed by the Sierra Club in his quest to become the Democratic Party’s nominee in the race for Attorney General—recently authored a bill to impose a 10 percent tax on oil company revenues from production taking place within state borders. Nava contends his measure would generate $1.4 billion in revenues. Coincidentally, one of Nava’s rivals for the Democratic nomination, Assemblymember Alberto Torrico, has introduced a similar oil-tax bill. Torrico’s bill would impose a 12.5 percent levy on oil industry revenues, and would require the funds collected be spent on higher education. Torrico contends his bill would generate $2 billion.

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