Taxes, Severance - As introduced, authorizes Clay County to increase the severance tax rate from 15 cents up to 45 cents; annually adjusts the maximum tax rate based on the percentage of change in the average consumer price index (all items-city average) as published by the United States department of labor, bureau of labor statistics; requires changes in the tax rate to be passed by a two-thirds majority vote of the county legislative body. - Amends TCA Title 67, Chapter 7, Part 2.