2005-02-14                     House Journal                      Page 0305
     HOUSE BILL NO. 71                                                                              
     "An Act relating to a credit for certain exploration expenses                                  
     against oil and gas properties production taxes on oil and gas                                 
     produced from a lease or property in the state; relating to the                                
     deadline for certain exploration expenditures used as credits                                  
     against production tax on oil and gas produced from a lease or                                 
     property in the Alaska Peninsula competitive oil and gas areawide                              
     lease sale area after July 1, 2004; and providing for an effective                             
     date."                                                                                         
                                                                                                    
and recommends it be replaced with:                                                                 
                                                                                                    
     CS FOR HOUSE BILL NO. 71(W&M)                                                                  
     "An Act relating to a credit for certain exploration expenses                                  
     against oil and gas properties production taxes on oil and gas                                 
     produced from a lease or property in the state; relating to the                                
     deadline for certain exploration expenditures used as credits                                  
     against the production tax on oil and gas produced from a lease or                             
     property in the Alaska Peninsula competitive oil and gas areawide                              
     lease sale area after July 1, 2004; and providing for an effective                             
     date."                                                                                         
                                                                                                    
The report was signed by Representative Weyhrauch, Chair, with the                                  
following individual recommendations:                                                               
                                                                                                    
Do pass (3):  Moses, Gruenberg, Weyhrauch                                                           
                                                                                                    
Amend (1):  Wilson                                                                                  
                                                                                                    
The following fiscal note(s) apply to CSHB 71(W&M):                                                 
                                                                                                    
1.  Indeterminate, Dept. of Natural Resources                                                       
2.  Zero, Dept. of Revenue                                                                          
                                                                                                    
HB 71 was referred to the House Special Committee on Oil & Gas.                                     
                                                                                                    
                        INTRODUCTION OF CITATIONS                                                
                                                                                                    
The following citations were introduced and referred to the Rules                                   
Committee for placement on the calendar: