2012-04-15                     Senate Journal                      Page 2387
HB 252                                                                                                                        
SENATE CS FOR CS FOR HOUSE BILL NO. 252(RLS) "An Act                                                                            
exempting certain small businesses from the corporate income tax;                                                               
relating to transferable film production tax credits and film production                                                        
tax credit certificates; relating to the taxes against which a film                                                             
production tax credit may be applied; transferring the film office to the                                                       
Department of Revenue and relating to that office; establishing the                                                             
Alaska Film Incentive Review Commission; establishing a film                                                                    
production promotion program; relating to the amount of credit that                                                             
may be awarded for compensation to producers, directors, writers, and                                                           
actors who are not residents; providing for a fee to be paid at the time                                                        
an application for eligibility for the film production tax credit is filed;                                                     
providing a one-time credit for the first episodic scripted television                                                          

2012-04-15                     Senate Journal                      Page 2388
production in the state; requiring the legislative audit division to audit                                                      
the Alaska film production incentive program; relating to the oil and                                                           
gas production tax; providing for a credit against the oil and gas                                                              
production tax for costs incurred for conducting seismic exploration                                                            
and drilling certain oil or natural gas exploration wells in certain                                                            
basins; relating to the determination of the production tax value of oil                                                        
and gas production; providing that the tax rate for new oil or gas                                                              
production south of 68 degrees North latitude and outside of the Cook                                                           
Inlet sedimentary basin may not exceed four percent of the gross value                                                          
at the point of production; providing for an effective date by repealing                                                        
the effective dates of secs. 3 and 4, ch. 63, SLA 2008; and providing                                                           
for an effective date" was engrossed, signed by the President and                                                               
Secretary and returned to the House for consideration.