2010-04-16                     Senate Journal                      Page 2389
SB 309                                                                                                                        
The Finance Committee considered SENATE BILL NO. 309 "An Act                                                                    
amending and extending the exploration and development incentive                                                                
tax credit under the Alaska Net Income Tax Act for operators and                                                                
working interest owners directly engaged in the exploration for and                                                             
development of gas from a lease or property in the state; providing for                                                         
an effective date by amending the effective date for sec. 2, ch. 61,                                                            
SLA 2003; and providing for an effective date" and recommended it                                                               
be replaced with                                                                                                                
                                                                                                                                
          CS FOR SENATE BILL NO. 309(FIN) "An Act                                                                               
          amending and extending the exploration and                                                                            
          development incentive tax credit under the Alaska                                                                     
          Net Income Tax Act for operators and working                                                                          
          interest owners directly engaged in the exploration                                                                   
          for and development of gas from a lease or property                                                                   
          in the state; relating to interest on certain                                                                         
          underpayments or overpayments of the oil and gas                                                                      

2010-04-16                     Senate Journal                      Page 2390
          production tax; providing a credit against the tax on                                                                 
          the production of oil and gas for drilling certain                                                                    
          exploration wells in the Cook Inlet sedimentary                                                                       
          basin; relating to the use of the oil and gas tax credit                                                              
          fund to purchase certain tax credit certificates;                                                                     
          providing for an effective date by amending the                                                                       
          effective date for sec. 2, ch. 61, SLA 2003; and                                                                      
          providing for an effective date."                                                                                     
                                                                                                                                
Signing do pass: Senators Hoffman, Stedman, Cochairs; Senators                                                                  
Huggins, Egan, Ellis. Signing no recommendation: Senator Olson.                                                                 
Signing amend: Senator Thomas.                                                                                                  
                                                                                                                                
The following fiscal information was published today:                                                                           
 Fiscal Note No. 2, indeterminate, Department of Natural                                                                        
      Resources                                                                                                                 
                                                                                                                                
The following previously published fiscal information applies:                                                                  
 Fiscal Note No. 1, indeterminate, Department of Revenue                                                                        
                                                                                                                                
The bill is on today's calendar.