2013-03-20                     Senate Journal                      Page 0659
Senators French, Ellis, Gardner, Wielechowski offered Amendment                                                                 
No. 3 :                                                                                                                          
                                                                                                                                
Page 1, line 4:                                                                                                                 
     Delete "the oil and gas production tax rate;"                                                                            
     Insert "oil and gas production tax rates; relating to application                                                        
of the oil and gas production tax to legacy fields and fields that are                                                        
not legacy fields;"                                                                                                           
                                                                                                                                
Page 2, following line 28:                                                                                                      
     Insert a new bill section to read:                                                                                         
"* Sec. 5. AS 43.20.043(g) is amended to read:                                                                                
          (g)  A taxpayer that obtains a credit for a qualified capital                                                         
     investment or cost incurred for qualified services under this                                                              
     section may not also claim a tax credit or royalty modification for                                                        
     the same qualified capital investment or cost incurred for qualified                                                       
     services under AS 38.05.180(i), AS 41.09.010, AS 43.55.023,                                                                
     [OR] 43.55.025, or AS 43.55.430. However, a taxpayer may elect                                                         
     not to obtain a credit under this section in order to qualify for a                                                        
     credit provided under AS 38.05.180(i), AS 41.09.010,                                                                       
     AS 43.55.023, or 43.55.025."                                                                                               
                                                                                                                                
Renumber the following bill sections accordingly.                                                                               
                                                                                                                                
Page 4, following line 29:                                                                                                      
     Insert a new bill section to read:                                                                                         
"* Sec. 10. AS 43.55 is amended by adding a new section to read:                                                              
          Sec. 43.55.005. Application of tax. (a) The following                                                               
     provisions in this chapter apply to the oil and gas production tax                                                         
     on oil and gas produced in the state from a field that is a legacy                                                         
     field:                                                                                                                     
              (1)  AS 43.55.011(i), (j), (k), (m), (o), and (p);                                                               
              (2)  AS 43.55.017;                                                                                                
              (3)  AS 43.55.019;                                                                                                
              (4)  AS 43.55.024(a) - (h);                                                                                       
              (5)  AS 43.55.025 - 43.55.150;                                                                                    
              (6)  AS 43.55.165;                                                                                                
              (7)  AS 43.55.170;                                                                                                
              (8)  AS 43.55.201 - 43.55.310;                                                                                    
              (9)  AS 43.55.410 - 43.55.440; and                                                                                
              (10)  AS 43.55.890 - 43.55.900.