Legislature(1995 - 1996)
1995-05-16 Senate Journal
Full Journal pdf1995-05-16 Senate Journal Page 1908 HB 207 SENATE CS FOR CS FOR HOUSE BILL NO. 207(FIN) am S "An Act relating to adjustments to royalty reserved to the state to encourage otherwise uneconomic production of oil and gas; and providing for an effective date" which had been held in third reading on reconsideration (page 1886) was before the Senate. Senator Rieger moved that the bill be returned to second reading for the purpose of a specific amendment, that being Amendment No. 12. Senator Duncan objected, then withdrew his objection. There being no further objections, the bill was returned to second reading. Senator Rieger offered Amendment No. 12 : 1995-05-16 Senate Journal Page 1909 HB 207 Page 3, lines 6-14: Delete all material. Insert: "(i) must include a mechanism for adjusting royalty percentage base on price; using forecasts of the range of future prices and their probabilities, the mechanism must provide that the value of the potential revenue increases resulting from royalty percentage increases must exceed the value of the potential revenue losses resulting from royalty percentage decreases; and" Senator Rieger moved and asked unanimous consent for the adoption of Amendment No. 12. Without objection, Amendment No. 12 was adopted. SENATE CS FOR CS FOR HOUSE BILL NO. 207(FIN) am S was automatically in third reading. Senator Leman moved that the bill be returned to second reading for the purpose of a specific amendment, that being Amendment No. 13. Without objection, the bill was returned to second reading. Senator Leman offered Amendment No. 13 : Page 4, lines 14-22: Delete all text and replace with: (B) keep the data described in (A) of this paragraph confidential under AS 38.05.035(a)(9) at the request of the lessee or lessees making application for the royalty modification; the confidential data may be disclosed by the commissioner to legislators and to the legislative auditor and as directed by the chair or vice-chair of the LB&A Committee to the director of the division of legislative finance, the permanent employees of their respective divisions who are responsible for evaluating a royalty modification, and to agents or contractors of the legislative auditor or the legislative finance director who are engaged under contract to evaluate the royalty modification, provided they sign an appropriate confidentiality agreement; 1995-05-16 Senate Journal Page 1910 HB 207 Senator Leman moved for the adoption of Amendment No. 13. Senator Halford objected, then withdrew his objection. There being no further objections, Amendment No. 13 was adopted. SENATE CS FOR CS FOR HOUSE BILL NO. 207(FIN) am S was automatically in third reading.