2013-04-13                     House Journal                      Page 1190
Amendment No. 3 was offered  by Representatives Seaton and                                                                       
Edgmon:                                                                                                                         
                                                                                                                                
Page 17, line 26, through page 18, line 28:                                                                                     
     Delete all material and insert:                                                                                            
         "(j)  For each month of the calendar year for which a                                                                  
     producer's average monthly gross value at the point of production                                                          
     of a barrel of taxable oil and gas is less than $150, a producer may                                                       
     apply against the producer's tax liability for the calendar year                                                           
     under AS 43.55.011(e) a tax credit in the amount specified in this                                                         
     subsection for each barrel of taxable oil under AS 43.55.011(e)                                                            
     that does not meet any of the criteria in AS 43.55.160(f) and that                                                         
     is produced during a calendar year after December 31, 2013, from                                                           
     leases or properties north of 68 degrees North latitude. A tax                                                             
     credit under this section may not reduce a producer's tax liability                                                        
     for a calendar year under AS 43.55.011(e) below zero. The                                                                  
     amount of the tax credit for a barrel of taxable oil subject to this                                                       
     subsection is                                                                                                              
              (1)  if the producer's average monthly gross value at the                                                         
     point of production of a barrel of taxable oil and gas is less than or                                                     
     equal to $100, $5 for each barrel of taxable oil; or                                                                       
              (2)  if the producer's average monthly gross value at the                                                         
     point of production of a barrel of taxable oil and gas is more than                                                        
     $100 and less than $150, $5 for each barrel of taxable oil, reduced                                                        
     by one-tenth of the difference between that average monthly gross                                                          
     value at the point of production of a barrel of oil and $100."                                                             
                                                                                                                                
Representative Seaton moved and asked unanimous consent that                                                                    
Amendment No. 3 be adopted.                                                                                                     
                                                                                                                                
Representative Feige objected.                                                                                                  
                                                                                                                                
The question being:  "Shall Amendment No. 3 be adopted?"  The roll                                                              
was taken with the following result:                                                                                            
                                                                                                                                
HCS CSSB 21(FIN) am H                                                                                                           
Second Reading                                                                                                                  
Amendment No. 3                                                                                                                 
                                                                                                                                
YEAS:  15   NAYS:  23   EXCUSED:  2   ABSENT:  0