HB 398: "An Act requiring the Department of Natural Resources to evaluate current incentives and recommend additional incentives that would increase gas exploration, development, and production in the state; requiring the Department of Natural Resources to evaluate the means by which the department may explore for oil and gas and tender subscriptions for information gathered through exploration-related activity; and providing for an effective date."
00 HOUSE BILL NO. 398 01 "An Act requiring the Department of Natural Resources to evaluate current incentives 02 and recommend additional incentives that would increase gas exploration, development, 03 and production in the state; requiring the Department of Natural Resources to evaluate 04 the means by which the department may explore for oil and gas and tender 05 subscriptions for information gathered through exploration-related activity; and 06 providing for an effective date." 07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 08 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 09 to read: 10 STUDY AND REPORT BY THE DEPARTMENT OF NATURAL RESOURCES 11 RELATING TO INCENTIVES FOR INCREASING OIL AND GAS PRODUCTION AND 12 THE MEANS BY WHICH THE DEPARTMENT COULD EXPLORE FOR OIL AND GAS 13 AND PROVIDE OIL AND GAS EXPLORATION DATA BY SUBSCRIPTION. (a) The
01 Department of Natural Resources shall 02 (1) identify and evaluate incentives the state may offer under current law to 03 increase the exploration for, development of, and production of oil and gas; 04 (2) identify and evaluate additional incentives that may be enacted by the 05 legislature to increase the exploration for, development of, and production of oil and gas; 06 (3) determine the cost, feasibility, and a proposed organizational structure for 07 the Department of Natural Resources to 08 (A) conduct geological fieldwork and gather seismic data on land open 09 to exploration licensing that the commissioner of natural resources finds to have the 10 greatest potential for oil and gas exploration, development, and production; and 11 (B) offer subscriptions to the information collected in (A) of this 12 paragraph that will remain confidential for two years after receipt by a person that 13 subscribes to the information with an option to extend the period of confidentiality for 14 two additional years if the subscriber obtains an exploration license under 15 AS 38.05.132 for the land from which the information was gathered. 16 (b) The Department of Natural Resources shall report its findings, conclusions, and 17 recommendations on the subjects described in (a) of this section to the legislature before 18 November 1, 2010. 19 * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).