00                             HOUSE BILL NO. 325                                                                          
01 "An Act increasing the balance of the oil and hazardous substance release prevention                                    
02 and response fund required to suspend the surcharge levied on oil produced in the state;                                
03 increasing the amount of the surcharge levied on oil produced in the state that may be                                  
04 appropriated to the oil and hazardous substance release prevention account; and                                         
05 providing for an effective date."                                                                                       
06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
07    * Section 1. AS 43.55.221(d) is amended to read:                                                                   
08            (d)  If the commissioner of administration reports that the sum reported under                               
09       (b) of this section equals or exceeds $75,000,000 [$50,000,000], the commissioner of                          
10       revenue shall suspend imposition and collection of the surcharge levied and collected                             
11       under AS 43.55.201. Suspension of the imposition and collection of the surcharge                                  
12       begins on the first day of the calendar quarter next following the commissioner's                                 
13       receipt of the commissioner of administration's report under (b) of this section. Before                          
01       the first day of a suspension authorized by this subsection, the commissioner shall                               
02       make a reasonable effort to notify all persons who are known to the department to be                              
03       paying the surcharge under AS 43.55.201 that the surcharge will be suspended.                                     
04    * Sec. 2. AS 43.55.221(e) is amended to read:                                                                      
05            (e)  Except as provided in AS 43.55.231, if the commissioner of administration                               
06       reports that the sum reported under (b) of this section is less than $75,000,000                              
07       [$50,000,000], the commissioner of revenue shall require imposition and collection of                             
08       the surcharge authorized under AS 43.55.201. If the surcharge is not in effect,                                   
09       reimposition of the surcharge begins on the first day of the calendar quarter next                                
10       following the commissioner's receipt of the commissioner of administration's report                               
11       under (b) of this section. Before the first day of reimposition of the surcharge                                  
12       authorized by this subsection, the commissioner shall make a reasonable effort to                                 
13       notify all persons who are known to the department to be required to pay the surcharge                            
14       under AS 43.55.201 that the surcharge will be reimposed.                                                          
15    * Sec. 3. AS 43.55.300(a) is amended to read:                                                                      
16            (a)  Every producer of oil shall pay a surcharge of $.07 for each [$.04 PER]                             
17       barrel of oil produced from each lease or property in the state, less any oil the                                 
18       ownership or right to which is exempt from taxation.                                                              
19    * Sec. 4. This Act takes effect immediately under AS 01.10.070(c).