Legislature(2005 - 2006)
2006-05-06 House JournalFull Journal pdf
2006-05-06 House Journal Page 3721 SB 305 The Finance Committee has considered: CS FOR SENATE BILL NO. 305(FIN) am "An Act repealing the oil production tax and the gas production tax and providing for a production tax on oil and gas; relating to the calculation of the gross value at the point of production of oil and gas and to the determination of the value of oil and gas for purposes of the production tax on oil and gas; providing for tax credits against the production tax on oil and gas; relating to the relationship of the production tax on oil and gas to other taxes, to the dates those tax payments and surcharges are due, to interest on overpayments of the tax, and to the treatment of the tax in a producer's settlement with the royalty owners; relating to flared gas, and to oil and gas used in the operation of a lease or property under the production tax; relating to the prevailing value of oil and gas under the production tax; relating to surcharges on oil; relating to statements or other information required to be filed with or 2006-05-06 House Journal Page 3722 furnished to the Department of Revenue, to the penalty for failure to file certain reports for the tax, to the powers of the Department of Revenue, and to the disclosure of certain information required to be furnished to the Department of Revenue as applicable to the administration of the tax; relating to criminal penalties for violating conditions governing access to and use of confidential information relating to the tax, and to the deposit of tax money collected by the Department of Revenue; amending the definitions of 'gas,' 'oil,' and certain other terms for purposes of the production tax, and as the definition of the term 'gas' applies in the Alaska Stranded Gas Development Act, and adding further definitions; making conforming amendments; and providing for an effective date." and recommends it be replaced with: HOUSE CS FOR CS FOR SENATE BILL NO. 305(FIN) (same title) The report was signed by Representatives Meyer and Chenault, Co- chairs, with the following individual recommendations: Do pass (3): Hawker, Meyer, Chenault Do not pass (1): Foster No recommendation (3): Weyhrauch, Joule, Moses Amend (4): Holm, Kelly, Kerttula, Stoltze The following fiscal note(s) apply to HCS CSSB 305(FIN): 4. Fiscal, Dept. of Revenue CSSB 305(FIN) am is on today's calendar.