Relief may be around the corner
Lahontan Valley News, 3/9/2010 - Economic news in Churchill County has been bleak, to say the least. Unemployment continues to creep up according to the latest state figures, and news that CMC Joist and Blockbuster will be closing their doors doesn't ooze with too much optimism, either.
More than 100 people will soon be without work in Churchill County.
Not all news is gloom and doom. Sens. John Ensign and Harry Reid have been successful in repealing a resolution that was tacked on House Resolution 2996 last fall redirecting all money derived from sales, bonuses, rentals and royalties under the Energy Act of 2005 shifted from states and counties to the federal government.
Now, their measure goes to the House of Representatives and then to the White House.
Their legislation will restore 50 percent of geothermal royalties back to the state, while 25 percent goes to the county, and the remaining 25 percent stays with the federal government.
The 25 percent share of geothermal revenue is intended to assist counties impacted by geothermal production and development.
The earlier House Resolution passed in October has affected approximately 31 counties in six states. During the first quarter of the federal government's fiscal year, Churchill County, for example, has lost thousands of dollars.
If money is restored, the county may not be forced to lay off employees as predicted, cut services or curtail capital improvement projects.
“This amendment will restore the counties' share and ensure critical funding for programs like public safety, transportation and education,” said Reid in a prepared statement.
Nevada, which brings in the second highest amount of revenue from geothermal, distributed $3.75 million to 12 counties in 2008, the latest figures available.
Likewise, in California, which is struggling with its enormous budget deficit, money derived from geothermal operations in 2008 earned about $5 million for eight counties.
After several months of waiting to see what will happen to the repeal of this House Resolution, it is finally gratifying to see movement on returning geothermal money to the counties.
Ensign and Reid, along with California Sens. Dianne Feinstein and Barbara Boxer, have worked hard to restore funding back to the counties.
Read the whole article >>
Relief may be around the corner
Lahontan Valley News, 3/9/2010 - Economic news in Churchill County has been bleak, to say the least. Unemployment continues to creep up according to the latest state figures, and news that CMC Joist and Blockbuster will be closing their doors doesn't ooze with too much optimism, either.
More than 100 people will soon be without work in Churchill County.
Not all news is gloom and doom. Sens. John Ensign and Harry Reid have been successful in repealing a resolution that was tacked on House Resolution 2996 last fall redirecting all money derived from sales, bonuses, rentals and royalties under the Energy Act of 2005 shifted from states and counties to the federal government.
Now, their measure goes to the House of Representatives and then to the White House.
Their legislation will restore 50 percent of geothermal royalties back to the state, while 25 percent goes to the county, and the remaining 25 percent stays with the federal government.
The 25 percent share of geothermal revenue is intended to assist counties impacted by geothermal production and development.
The earlier House Resolution passed in October has affected approximately 31 counties in six states. During the first quarter of the federal government's fiscal year, Churchill County, for example, has lost thousands of dollars.
If money is restored, the county may not be forced to lay off employees as predicted, cut services or curtail capital improvement projects.
“This amendment will restore the counties' share and ensure critical funding for programs like public safety, transportation and education,” said Reid in a prepared statement.
Nevada, which brings in the second highest amount of revenue from geothermal, distributed $3.75 million to 12 counties in 2008, the latest figures available.
Likewise, in California, which is struggling with its enormous budget deficit, money derived from geothermal operations in 2008 earned about $5 million for eight counties.
After several months of waiting to see what will happen to the repeal of this House Resolution, it is finally gratifying to see movement on returning geothermal money to the counties.
Ensign and Reid, along with California Sens. Dianne Feinstein and Barbara Boxer, have worked hard to restore funding back to the counties.
Read the whole article >>
