2007-05-10                     Senate Journal                      Page 1188
SB 175                                                                                                                        
SENATE BILL NO. 175 BY SENATORS FRENCH, Wielechowski,                                                                           
Ellis, Elton, entitled:                                                                                                         
                                                                                                                                
          "An Act providing for the use of petroleum                                                                            
          production and other facilities by additional entities;                                                               
          amending the powers of the Alaska Oil and Gas                                                                         
          Conservation Commission; relating to oil and gas                                                                      
          properties production taxes and credits; providing for                                                                
          production tax adjustments to increase the amount of                                                                  
          tax at high oil prices, reduce the amount of tax at low                                                               
          oil prices, and reduce the amount of tax on the                                                                       
          production of heavy oil; relating to the determination                                                                
          of the gross value of oil and gas at the point of                                                                     
          production; and providing for an effective date."                                                                     
                                                                                                                                
was read the first time and referred to the Resources, Judiciary and                                                            
Finance Committees.