"SACRAMENTO (KCBS) -- A state Assembly committee has passed legislation that would tax oil and gas companies who do business in California.
The Revenue and Taxation Committee approved the bill, authored by Assembly Majority Leader Alberto Torrico of Fremont.
The bill would pass the extra tax revenue from oil and gas firms to the state's cash-strapped public higher education institutions.
The legislation now heads to the Assembly Appropriations Committee and will be heard on Thursday, January 21st.
Similar legislation has been vetoed by the governor in the past."
The Revenue and Taxation Committee approved the bill, authored by Assembly Majority Leader Alberto Torrico of Fremont.
The bill would pass the extra tax revenue from oil and gas firms to the state's cash-strapped public higher education institutions.
The legislation now heads to the Assembly Appropriations Committee and will be heard on Thursday, January 21st.
Similar legislation has been vetoed by the governor in the past."
