Legislature(2013 - 2014)
2013-03-20 Senate Journal
Full Journal pdf2013-03-20 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.