2007-11-11                     House Journal                      Page 1611
HB 2001                                                                                                                       
The Finance Committee considered:                                                                                               
                                                                                                                                
     HOUSE BILL NO. 2001                                                                                                        
     "An Act relating to the production tax on oil and gas and to                                                               
     conservation surcharges on oil; relating to the issuance of advisory                                                       
     bulletins and the disclosure of certain information relating to the                                                        
     production tax and the sharing between agencies of certain                                                                 
     information relating to the production tax and to oil and gas or gas                                                       
     only leases; amending the State Personnel Act to place in the                                                              

2007-11-11                     House Journal                      Page 1612
     exempt service certain state oil and gas auditors and their                                                                
     immediate supervisors; establishing an oil and gas tax credit fund                                                         
     and authorizing payment from that fund; providing for retroactive                                                          
     application of certain statutory and regulatory provisions relating                                                        
     to the production tax on oil and gas and conservation surcharges                                                           
     on oil; making conforming amendments; and providing for an                                                                 
     effective date."                                                                                                           
                                                                                                                                
and recommends it be replaced with:                                                                                             
                                                                                                                                
     CS FOR HOUSE BILL NO. 2001(FIN)                                                                                            
     "An Act relating to the production tax on oil and gas and to                                                               
     conservation surcharges on oil; providing a limit on the amount of                                                         
     tax that may be levied on the production of certain gas that is                                                            
     produced outside of the Cook Inlet sedimentary basin; relating to                                                          
     the sharing between agencies of certain information relating to the                                                        
     production tax and to oil and gas or gas only leases; expanding the                                                        
     period in which the Department of Revenue may assess the                                                                   
     amount of oil and gas production tax and conservation surcharges;                                                          
     prohibiting a producer or explorer from receiving tax credits if                                                           
     certain judgments are not satisfied and requiring, as a condition of                                                       
     receiving the tax credits, the deposit of the amount of certain                                                            
     unpaid judgments and certain interest on those judgments in the                                                            
     court during an appeal and relating to that interest; relating to state                                                    
     oil and gas auditors and their immediate supervisors; making                                                               
        conforming amendments; and providing for an effective date."                                                           
                                                                                                                                
The report was signed by Representatives Meyer and Chenault, Co-                                                                
chairs, with the following individual recommendations:                                                                          
                                                                                                                                
Do pass (1):  Stoltze                                                                                                           
                                                                                                                                
Do not pass (1):  Foster                                                                                                        
                                                                                                                                
No recommendation (5):  Nelson, Joule, Thomas, Meyer, Chenault                                                                  
                                                                                                                                
Amend (4):  Gara, Crawford, Hawker, Kelly                                                                                       
                                                                                                                                
The following fiscal note(s) apply to CSHB 2001(FIN):                                                                           
                                                                                                                                

2007-11-11                     House Journal                      Page 1613
1.  Zero, Dept. of Administration                                                                                               
6.  Fiscal, Dept. of Revenue                                                                                                    
7.  Fiscal, Dept. of Revenue                                                                                                    
8.  Indeterminate, Dept. of Natural Resources                                                                                   
                                                                                                                                
HB 2001 is on today's calendar.