2016-05-17                     Senate Journal                      Page 2822
                          Standing Committee Reports                                                                         
                                                                                                                                
HB 247                                                                                                                        
The Finance Committee considered 2d CS FOR HOUSE BILL                                                                           
NO. 247(RLS) am "An Act amending the powers of the board of                                                                     
trustees of the Alaska Retirement Management Board to authorize                                                                 
purchase and sale of transferable tax credit certificates issued in                                                             
conjunction with the production tax on oil and gas; relating to interest                                                        
applicable to delinquent tax; relating to the oil and gas production tax,                                                       
tax payments, and credits; relating to exploration incentive 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 the                                                                
confidential information status and public record status of information                                                         
in the possession of the Department of Revenue; 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" and recommended it be replaced with                                                                             
                                                                                                                                
          SENATE CS FOR 2d CS FOR HOUSE BILL                                                                                    
          NO. 247(FIN) "An Act relating to the exploration                                                                      
          incentive credits; relating to the powers and duties of                                                               
          the Alaska Oil and Gas Conservation Commission;                                                                       
          relating to interest applicable to delinquent tax;                                                                    
          relating to the oil and gas production tax, tax                                                                       
          payments, and credits; relating to tax credit                                                                         
          certificates; 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;                                                                        
          requiring a bond or cash deposit with a business                                                                      
          license application for an oil or gas business; and                                                                   
          providing for an effective date."                                                                                     
          (Title Change SCR 32)