2014-03-14                     Senate Journal                      Page 1981
SB 138                                                                                                                        
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                                                            

2014-03-14                     Senate Journal                      Page 1982
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 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" which had been moved to the bottom of the                                                                
calendar (page 1966), was before the Senate.                                                                                    
                                                                                                                                
Senator Coghill moved and asked unanimous consent that SENATE                                                                   
BILL NO. 138 be held to the March 17 calendar. Without objection, it                                                            
was so ordered.