2016-05-13                     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