2016-05-12                     House Journal                      Page 2805
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."                                                                                                                      

2016-05-12                     House Journal                      Page 2806
The report was signed by Representative Johnson, Chair, with the                                                                
following individual recommendations:                                                                                           
                                                                                                                                
Do pass (3):  Chenault, Olson, Johnson                                                                                          
                                                                                                                                
No recommendation (2):  Herron, Tuck                                                                                            
                                                                                                                                
Amend (1):  Kreiss-Tomkins                                                                                                      
                                                                                                                                
The following fiscal note(s) apply to 2d CSHB 247(RLS):                                                                         
                                                                                                                                
5.  Zero, Dept. of Natural Resources                                                                                            
7.  Fiscal, Dept. of Revenue                                                                                                    
                                                                                                                                
CSHB 247(FIN) am is on today's calendar.