Gov. Tom Corbett on Monday night signed a bill that would let Pennsylvania counties impose a fee on natural gas wells in the Marcellus Shale region. The state Legislature passed the bill last week.
Moody’s Investors Service in a report Monday called the new law a credit positive for most counties and municipalities. Moody’s expects revenue from the new fee to bring in more than $210 million in fiscal 2013 and increase total annual revenues in some counties by as much as 50%.