2013-03-20                     Senate Journal                      Page 0643
SB 21                                                                                                                         
CS FOR SENATE BILL NO. 21(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; providing                                                             
a tax credit against the corporation income tax for qualified oil and gas                                                       
service industry expenditures; relating to the oil and gas production tax                                                       
rate; relating to gas used in the state; relating to monthly installment                                                        
payments of the oil and gas production tax; relating to oil and gas                                                             
production tax credits for certain losses and expenditures; relating to                                                         
oil and gas production tax credit certificates; relating to                                                                     

2013-03-20                     Senate Journal                      Page 0644
nontransferable tax credits based on production; relating to the oil and                                                        
gas tax credit fund; relating to annual statements by producers and                                                             
explorers; establishing the Oil and Gas Competitiveness Review                                                                  
Board; making conforming amendments; and providing for an                                                                       
effective date" was read the third time.                                                                                        
                                                                                                                                
Senator Coghill moved that the bill be returned to second reading for                                                           
the purpose of specific amendments, those being Amendment Nos. 1                                                                
through 13. Without objection, the bill was returned to second reading.                                                         
                                                                                                                                
Senator McGuire called the Senate. The call was satisfied.                                                                      
                                                                                                                                
Senators Micciche, McGuire, Coghill, Bishop, Meyer, Giessel,                                                                    
Fairclough, Huggins, Dyson, Egan, Olson offered Amendment No. 1 :                                                                
                                                                                                                                
Page 5, lines 4 - 12:                                                                                                           
     Delete "the annual production tax value of the taxable oil and                                                         
gas as calculated under AS 43.55.160(a) produced during a                                                                   
calendar year [THE SUM OF]                                                                                                  
              (1)  before January 1, 2017, [THE ANNUAL                                                                      
     PRODUCTION TAX VALUE OF THE TAXABLE OIL AND                                                                                
     GAS AS CALCULATED UNDER AS 43.55.160(a)(1)]                                                                                
     multiplied by 35 [25] percent; and                                                                                     
              (2)  after December 31, 2016, multiplied by 33 percent                                                        
     [THE SUM, OVER ALL MONTHS OF THE CALENDAR                                                                                  
     YEAR, OF THE TAX AMOUNTS DETERMINED UNDER (g)                                                                              
     OF THIS SECTION]."                                                                                                         
     Insert "[THE SUM OF                                                                                                        
              (1)]  the annual production tax value of the taxable oil and                                                      
     gas as calculated under AS 43.55.160(a) [AS 43.55.160(a)(1)]                                                           
     multiplied by 35 [25] percent [; AND                                                                                   
              (2)  THE SUM, OVER ALL MONTHS OF THE                                                                              
     CALENDAR YEAR, OF THE TAX AMOUNTS DETERMINED                                                                               
     UNDER (g) OF THIS SECTION]."                                                                                               
                                                                                                                                
Page 9, line 5:                                                                                                                 
     Delete "the applicable tax rate in AS 43.55.011(e)"                                                                    
     Insert "35 percent"                                                                                                    
                                                                                                                                
                                                                                                                                

2013-03-20                     Senate Journal                      Page 0645
Page 9, line 21:                                                                                                                
     Delete "the applicable tax rate in AS 43.55.011(e)"                                                                    
     Insert "35 percent"                                                                                                    
                                                                                                                                
Page 10, line 5:                                                                                                                
     Delete "the applicable tax rate in AS 43.55.011(e)"                                                                    
     Insert "35 percent"                                                                                                    
                                                                                                                                
Page 10, line 16:                                                                                                               
     Delete "the applicable tax rate in AS 43.55.011(e)"                                                                    
     Insert "35 percent"                                                                                                    
                                                                                                                                
Senator Micciche moved for the adoption of Amendment No. 1.                                                                     
Senator Ellis objected.                                                                                                         
                                                                                                                                
Senator McGuire lifted the call.