2005-04-05                     House Journal                      Page 0860
HB 71                                                                                             
The Resources Committee has considered:                                                             
                                                                                                    
    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(RES)                                                                   
    "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, and to the deadline                             
    for certain exploration expenditures from a lease or property in the                            
    Alaska Peninsula competitive oil and gas areawide lease sale area                               
    or the Nenana Basin license area used as credits against the                                    
    production tax on oil and gas produced; and providing for an                                    
    effective date."                                                                                
                                                                                                    
The report was signed by Representatives Ramras and Samuels, Co-                                    
chairs, with the following individual recommendations:                                              
                                                                                                    
Do pass (3):  Elkins, Ramras, Samuels                                                               
                                                                                                    
No recommendation (5):  Olson, Gatto, Crawford, Seaton, LeDoux                                      
                                                                                                    
                                                                                                    
The following fiscal note(s) apply to CSHB 71(RES):                                                 
                                                                                                    
1.  Indeterminate, Dept. of Natural Resources                                                       
2.  Zero, Dept. of Revenue                                                                          
                                                                                                    
HB 71 was referred to the Finance Committee.