2012-03-05                     Senate Journal                      Page 1730
                          Standing Committee Reports                                                                         
                                                                                                                                
SB 157                                                                                                                        
Memorandum dated March 5 was read from the Labor and Commerce                                                                   
Committee stating the committee substitute for SENATE BILL                                                                      
NO. 157 "An Act allowing an insurer to cancel an insurance policy if                                                            
property becomes unoccupied and the vacancy increases the hazard                                                                
insured against" published on February 29 (page 1682) did not                                                                   
conform to what the committee passed out.                                                                                       
                                                                                                                                
The following corrected committee substitute was attached for                                                                   
publication and replacement in all bill files:                                                                                  
                                                                                                                                
          CS FOR SENATE BILL NO. 157(L&C) "An Act                                                                               
          allowing an insurer to cancel an insurance policy if                                                                  
          property becomes vacant and the vacancy increases                                                                     
          the hazard insured against."                                                                                          
                                                                                                                                
SB 192                                                                                                                        
The Resources Committee considered SENATE BILL NO. 192 "An                                                                      
Act relating to the oil and gas production tax; and providing for an                                                            
effective date" and recommended it be replaced with                                                                             
                                                                                                                                
          CS FOR SENATE BILL NO. 192(RES) "An Act                                                                               
          relating to the oil and gas production tax; relating to                                                               
          the minimum tax on oil and gas production;                                                                            
          providing that the tax rate applicable to the                                                                         
          production of oil as the average production tax value                                                                 
          of oil, gas produced in the Cook Inlet sedimentary                                                                    
          basin, and gas produced outside of the Cook Inlet                                                                     
          sedimentary basin and used in the state increases                                                                     
          above $30 shall be 0.35 percent multiplied by the                                                                     
          number that represents the difference between that                                                                    
          average monthly production tax value and $30, or the                                                                  
          sum of 25 percent and the product of 0.1 percent                                                                      
          multiplied by the number that represents the                                                                          
          difference between that average monthly production                                                                    
          tax value and $101.43, except that the total rate                                                                     
          determined in the calculation may not exceed 35                                                                       
          percent; providing for an increase in the rate of tax on