Legislature(2015 - 2016)
2016-05-13 House Journal
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Full Journal pdf2016-05-13 House Journal Page 2893 Amendment No. 22 was offered by Representatives Kawasaki, Tarr, Josephson, Drummond, Tuck, Kito, Guttenberg, Ortiz, Gara, and Spohnholz: Page 1, line 4, following "tax;" (title amendment): Insert "relating to the minimum oil and gas production tax for certain oil and gas;" Page 7, following line 2: Insert a new bill section to read: "* Sec. 15. AS 43.55.019(e) is amended to read: (e) The credit under this section may not reduce a person's tax liability for the calendar year under AS 43.55.011(e) to below the amount calculated under AS 43.55.011(f) [ZERO FOR ANY TAX YEAR]. An unused credit or portion of a credit not used under this section for a tax year may not be sold, traded, transferred, or applied in a subsequent tax year." Renumber the following bill sections accordingly. Page 8, following line 5: Insert a new bill section to read: "* Sec. 17. AS 43.55.023(c) is amended to read: (c) A credit or portion of a credit under this section may not be used to reduce a person's tax liability under AS 43.55.011(e) for any calendar year below the amount calculated under AS 43.55.011(f) [ZERO], and any unused credit or portion of a credit not used under this subsection may be applied in a later calendar year." Renumber the following bill sections accordingly. Page 10, following line 2: Insert new bill sections to read: "* Sec. 21. AS 43.55.024(f) is amended to read: (f) A tax credit authorized by (a) of this section may not be applied to reduce a producer's tax liability for any calendar year under AS 43.55.011(e) on oil and gas produced from leases or properties outside the Cook Inlet sedimentary basin, no part of which is north of 68 degrees North latitude, below the amount