2014-01-24                     Senate Journal                      Page 1423
      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."                                                                                     
                                                                                                                                
was read the first time and referred to the Resources and Finance                                                               
Committees.                                                                                                                     
                                                                                                                                
The following fiscal information was published today:                                                                           
Fiscal Note No. 1, Department of Commerce, Community and                                                                        
 Economic Development                                                                                                           
Fiscal Note No. 2, Department of Commerce, Community and                                                                        
 Economic Development                                                                                                           
Fiscal Note No. 3, Department of Natural Resources                                                                              
Fiscal Note No. 4, Department of Revenue                                                                                        
                                                                                                                                
Governor's transmittal letter dated January 23:                                                                                 
                                                                                                                                
Dear President Huggins,                                                                                                         
                                                                                                                                
Alaska has significant gas resources on the North Slope. Current                                                                
known reserves are nearly 35 trillion cubic feet (TCF), and US                                                                  
Geological Survey estimates of technically recoverable conventional                                                             
gas resources are more than 240 TCF. Bringing this gas to market has                                                            
been the focus of many efforts over the last 30 years, but to be                                                                
successful, requires a coordinated and collaborative effort of many                                                             
parties.                                                                                                                        
                                                                                                                                
The recent alignment by parties around a path forward on a large-scale                                                          
LNG project, and the Alaska Gasline Development Corporation's                                                                   
(AGDC) preparation for an open season in 2015 for an in-state                                                                   
pipeline, create an opportunity for that coordinated and collaborative                                                          
effort. With parties working together on Alaska's terms, and in                                                                 
Alaskans' interests, it is time to move forward with legislation to                                                             
advance a natural gas project that would provide natural gas for                                                                
Alaskans and markets beyond. Therefore, under the authority of                                                                  
Article III, Section 18 of the Alaska Constitution, I am transmitting a                                                         
bill designed to achieve the long-sought State goal of commercial                                                               
production of North Slope natural gas for the benefit of all Alaskans.