Legislature(2015 - 2016)
2016-05-12 House Journal
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Full Journal pdf2016-05-12 House Journal Page 2805 REPORTS OF STANDING COMMITTEES HB 247 The Rules Committee considered: CS FOR HOUSE BILL NO. 247(FIN) am "An Act relating to interest applicable to delinquent tax; relating to the oil and gas production tax, tax payments, and credits; relating to refunds for the gas storage facility tax credit, the liquefied natural gas storage facility tax credit, and the qualified in-state oil refinery infrastructure expenditures tax credit; relating to oil and gas lease expenditures and production tax credits for municipal entities; relating to a bond or cash deposit required for an oil or gas business; establishing a legislative working group to study the tax structure for oil and gas produced south of 68 degrees North latitude; and providing for an effective date." and recommends it be replaced with: 2d CS FOR HOUSE BILL NO. 247(RLS) "An Act relating to the powers and duties of the Alaska Oil and Gas Conservation Commission; relating to exploration incentive credits; relating to confidential information status and public record status of information in the possession of the Department of Revenue; relating to interest applicable to delinquent tax; relating to the oil and gas production tax rate for certain oil exempt from taxation or constituting a landowner's royalty interest; relating to oil and gas production tax credits; relating to tax credit certificates; relating to the calculation of the production tax value of oil and gas; relating to refunds for the gas storage facility tax credit, the liquefied natural gas storage facility tax credit, and the qualified in-state oil refinery infrastructure expenditures tax credit; relating to the purchase of tax credit certificates from the oil and gas tax credit fund; relating to lease expenditures; relating to oil and gas lease expenditures and production tax credits for municipal entities; requiring a bond or cash deposit with a business license application for an oil or gas business; establishing a legislative working group to study the fiscal regime and tax structure and rates for oil and gas produced south of 68 degrees North latitude; and providing for an effective date."