2014-04-19                     House Journal                      Page 2645
Amendment No. 3 was offered  by Representative Tarr:                                                                             
                                                                                                                                
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    Delete "a new section"                                                                                                      
    Insert "new sections"                                                                                                       
                                                                                                                                
Page 18, following line 26:                                                                                                     
    Insert a new section to read:                                                                                               
         "Sec. 38.05.024. Prohibited agreement or contract term                                                               
    relating to the tax on oil production. An agreement or contract                                                           
    negotiated under AS 38.05.020(b)(11) or other agreement or                                                                  
    contract in which the state or an entity of the state is a party and                                                        
    that is associated with a North Slope natural gas project may not                                                           
    include a provision that reduces the tax levied on oil production                                                           
    under AS 43.55.011 or that requires compensation to a producer                                                              
    for future changes in the tax levied on oil production under                                                                
    AS 43.55.011."                                                                                                              
                                                                                                                                
Representative Tarr moved and asked unanimous consent that                                                                      
Amendment No. 3 be adopted.                                                                                                     
                                                                                                                                
Representative Feige objected.                                                                                                  
                                                                                                                                
Representative Tarr moved and asked unanimous consent to withdraw                                                               
Amendment No. 3.  There being no objection, it was so ordered.                                                                  
                                                                                                                                
Amendment No. 4 was offered  by Representative Gara:                                                                             
                                                                                                                                
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    Insert a new subsection to read:                                                                                            
         "(e)  An agreement or contract negotiated under                                                                        
    AS 38.05.020(b)(11) or other agreement or contract in which the                                                             
    state or an entity of the state is a party and that is associated with a                                                    
    North Slope natural gas project may allow all parties the benefit of                                                        
    equalized capital costs that result from the expansion of the                                                               
    project. However, the agreement or contract must provide for an                                                             
    expansion to transport additional natural gas produced from a                                                               
    lease or property subject to the tax levied under AS 43.55.011(e)                                                           
    that may increase the average capital cost for each 1,000 cubic                                                             
    feet of natural gas above the level before the expansion; however,