00                            SENATE BILL NO. 240                                                                         
01 "An Act approving and ratifying the sale of royalty oil by the State of Alaska to                                       
02 Marathon Petroleum Supply and Trading 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 MARATHON PETROLEUM SUPPLY                                                                
08 AND TRADING COMPANY LLC APPROVED AND RATIFIED. In accordance with                                                       
09 AS 38.06.055, the legislature approves and ratifies the "Agreement for the Sale of Royalty Oil                          
10 between and among the State of Alaska, and Marathon Petroleum Supply and Trading                                        
11 Company LLC, a Delaware Limited Liability Company and Marathon Petroleum                                                
12 Corporation, a Delaware Corporation," attached as Exhibit 1 to the March 18, 2022 "Final                                
13 Best Interest Finding and Determination for the Sale of Alaska North Slope Royalty Oil to                               
14 Marathon Petroleum Supply and Trading Company LLC."                                                                     

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