2011-03-31                     House Journal                      Page 0688
    monthly tax rate under AS 43.55.011(e) for the calendar year in                                                             
    which the credit is taken and the percentage of the exploration                                                             
    expenditure, other than an exploration expenditure described in (l)                                                         
    of this section, that may be taken as a credit under (a) of this                                                            
    section.                                                                                                                    
   * Sec. 8. AS 43.55.025(d), 43.55.025(e), and 43.55.025(m) are                                                              
repealed.                                                                                                                       
   * Sec. 9. This Act takes effect January 1, 2012."                                                                          
                                                                                                                                
Representative Gara moved and asked unanimous consent that                                                                      
Amendment No. 4 be adopted.                                                                                                     
                                                                                                                                
Representative Millett objected.                                                                                                
                                                                                                                                
The Speaker stated that, without objection, the House would recess                                                              
until 5:00 p.m.; and so, the House recessed at 12:08 p.m.                                                                       
                                                                                                                                
                              AFTER RECESS                                                                                   
                                                                                                                                
The Speaker called the House back to order at 5:06 p.m.                                                                         
                                                                                                                                
                      THIRD READING OF HOUSE BILLS                                                                           
                              (continued)                                                                                      
                                                                                                                                
HB 110                                                                                                                        
The following was before the House with Amendment No. 4 (page                                                                   
683) moved and pending:                                                                                                         
                                                                                                                                
    CS FOR HOUSE BILL NO. 110(FIN)                                                                                              
    "An Act relating to the interest rate applicable to certain amounts                                                         
    due for fees, taxes, and payments made and property delivered to                                                            
    the Department of Revenue; relating to the oil and gas production                                                           
    tax rate; relating to monthly installment payments of the oil and                                                           
    gas production tax; relating to oil and gas production tax credits,                                                         
    including qualified capital credits for exploration, development,                                                           
    and production; relating to certain additional nontransferable oil                                                          
    and gas production tax credits; relating to the disclosure of certain                                                       
    tax information; making conforming amendments; and providing                                                                
    for an effective date."