2014-02-12                     Senate Journal                      Page 1617
SB 138                                                                                                                        
Senator Giessel, Chair, moved and asked unanimous consent that                                                                  
Uniform Rule 23 be waived for a Resources Committee meeting at                                                                  
8:00 a.m., February 13 on SENATE BILL NO. 138 "An Act relating                                                                  
to the purposes of the Alaska Gasline Development Corporation to                                                                
advance to develop a large-diameter natural gas pipeline project,                                                               
including treatment and liquefaction facilities; establishing the large-                                                        
diameter natural gas pipeline project fund; creating a subsidiary                                                               
related to a large-diameter natural gas pipeline project, including                                                             
treatment and liquefaction facilities; relating to the authority of the                                                         
commissioner of natural resources to negotiate contracts related to                                                             
North Slope natural gas projects, to enter into confidentiality                                                                 
agreements in support of contract negotiations and implementation,                                                              
and to take custody of gas delivered to the state under an election to                                                          
pay the oil and gas production tax in kind; relating to the sale,                                                               
exchange, or disposal of gas delivered to the state under an election to                                                        
pay the oil and gas production tax in kind; relating to the duties of the                                                       
commissioner of revenue to direct the disposition of revenues received                                                          
from gas delivered to the state in kind and to consult with the                                                                 
commissioner of natural resources on the custody and disposition of                                                             
gas delivered to the state in kind; relating to the authority of the                                                            

2014-02-12                     Senate Journal                      Page 1618
commissioner of natural resources to propose modifications to existing                                                          
state oil and gas leases; making certain information provided to the                                                            
Department of Natural Resources and the Department of Revenue                                                                   
exempt from inspection as a public record; making certain tax                                                                   
information related to an election to pay the oil and gas production tax                                                        
in kind exempt from tax confidentiality provisions; relating to                                                                 
establishing under the oil and gas production tax a gross tax rate for                                                          
gas after 2021; making the alternate minimum tax on oil and gas                                                                 
produced north of 68 degrees North latitude after 2021 apply only to                                                            
oil; relating to apportionment factors of the Alaska Net Income Tax                                                             
Act; authorizing a producer's election to pay the oil and gas production                                                        
tax in kind for certain gas and relating to the authorization; relating to                                                      
monthly installment payments of the oil and gas production tax;                                                                 
relating to interest payments on monthly installment payments of the                                                            
oil and gas production tax; relating to settlements between producers                                                           
and royalty owners for oil and gas production tax; relating to annual                                                           
statements by producers and explorers; relating to annual production                                                            
tax values; relating to lease expenditures; amending the definition of                                                          
gross value at the 'point of production' for gas for purposes of the oil                                                        
and gas production tax; adding definitions related to natural gas terms;                                                        
clarifying that credit may not be taken against the in-kind levy of the                                                         
oil and gas production tax for gas for purposes of the exploration                                                              
incentive credit, the oil or gas producer education credit, and the film                                                        
production tax credit; making conforming amendments; and providing                                                              
for an effective date" and bills previously heard/scheduled. Without                                                            
objection, it was so ordered.                                                                                                   
                                                                                                                                
Announcements are at the end of the journal.