2015-04-13                     House Journal                      Page 0892
     CS FOR HOUSE BILL NO. 100(FIN)                                                                                             
     "An Act establishing a credit against the net income tax for an in-                                                        
     state processing facility that manufactures urea, ammonia, or gas-                                                         
     to-liquid products; relating to establishing the value of the state's                                                      
     royalty share of gas production based on contracts with certain in-                                                        
     state processing facilities that manufacture urea, ammonia, or gas-                                                        
     to-liquid products; and providing for an effective date."                                                                  
                                                                                                                                
Representative Gara moved and asked unanimous consent that CSHB
(FIN) be returned to second reading for the specific purpose of                                                              
considering Amendment No. 1.  There being no objection, it was so                                                               
ordered.                                                                                                                        
                                                                                                                                
The Speaker stated that, without objection, CSHB 100(FIN) would be                                                              
returned to second reading for all amendments.                                                                                  
                                                                                                                                
Amendment No. 1 was offered  by Representative Gara:                                                                             
                                                                                                                                
Page 1, line 5, following "products;" (title amendment):                                                                      
     Insert "providing an optional exemption from municipal                                                                   
property taxation for certain in-state processing facilities that                                                             
manufacture urea, ammonia, or gas-to-liquid products;"                                                                        
                                                                                                                                
Page 1, following line 6:                                                                                                       
     Insert a new bill section to read:                                                                                         
   "* Section 1. AS 29.45.050 is amended by adding a new subsection                                                           
to read:                                                                                                                        
         (x) A municipality may by ordinance approved by the voters                                                             
     exempt or partially exempt from taxation an in-state processing                                                            
     facility whose primary function is the manufacturing and sale of                                                           
     urea, ammonia, or gas-to-liquid products to third parties in arm's                                                         
     length transactions. An exemption under this subsection may be of                                                          
     limited or unlimited duration."                                                                                            
                                                                                                                                
Page 1, line 7:                                                                                                                 
     Delete "Section 1"                                                                                                       
     Insert "Sec. 2"                                                                                                          
                                                                                                                                
Renumber the following bill sections accordingly.