00                            HOUSE BILL NO. 373                                                                          
01 "An Act approving and ratifying the sale of royalty oil by the State of Alaska to Tesoro                                
02 Corporation and Tesoro Refining and Marketing Company LLC; and providing for an                                         
03 effective date."                                                                                                        
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1. The uncodified law of the State of Alaska is amended by adding a new section                          
06 to read:                                                                                                                
07       ROYALTY OIL SALE CONTRACT WITH TESORO CORPORATION AND                                                             
08 TESORO REFINING AND MARKETING COMPANY LLC APPROVED AND                                                                  
09 RATIFIED. The legislature approves and ratifies the agreement for the sale and purchase of                              
10 state royalty oil between and among the State of Alaska and Tesoro Corporation and Tesoro                               
11 Refining and Marketing Company LLC, attached as Exhibit 1 to the "Final Best Interest                                   
12 Finding and Determination for the Sale of Alaska North Slope Royalty Oil to Tesoro Refining                             
13 and Marketing Company LLC" dated March 17, 2016. This section constitutes legislative                                   
14 approval under AS 38.06.055.                                                                                            

01    * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).