For the privilege of using geological strata beneath the surface of the earth in Prince George's County or underground storage of gas in volumes greater than the minimum volume specified, a gas storage company shall pay the county an annual underground storage use fee. The fee applies annually to all gas in storage, except the specified minimum volume, on the last day of each calendar year. It is computed at the following annual rates on the commodity charge paid for the gas by the gas storage company, as evidenced by the tariff under which the gas was purchased:

Rate

Cubic feet of gas in storage

No fee

On the first 5 billion

2 percent

On all over 5 billion but

not over 10 billion

4 percent

On all over 10 billion

but not over 15 billion

6 percent

On all over 15 billion

but not over 20 billion

8 percent

On all over 20 billion

but not over 25 billion

10 percent

On all over 25 billion.

Added by Acts 1973, 1st Sp. Sess., c. 4, § 1. Renumbered from Natural Resources § 6-208 by Acts 1995, c. 488, § 2, eff. July 1, 1995.

Formerly Art. 66C, § 695K.