2016-05-18                     Senate Journal                      Page 2846
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     Delete "secs. 53 and 54"                                                                                                   
     Insert "secs. 61 and 62"                                                                                                   
                                                                                                                                
Senator Wielechowski moved for the adoption of Amendment No. 2.                                                                 
Senator MacKinnon objected.                                                                                                     
                                                                                                                                
The question being: "Shall Amendment No. 2 be adopted?" The roll                                                                
was taken with the following result:                                                                                            
                                                                                                                                
SCS 2d CSHB 247(FIN)                                                                                                            
Second Reading                                                                                                                  
Amendment No. 2                                                                                                                 
                                                                                                                                
YEAS:  4   NAYS:  16   EXCUSED:  0   ABSENT:  0                                                                               
                                                                                                                                
Yeas:  Egan, Ellis, Gardner, Wielechowski                                                                                       
                                                                                                                                
Nays:  Bishop, Coghill, Costello, Dunleavy, Giessel, Hoffman,                                                                   
Huggins, Kelly, MacKinnon, McGuire, Micciche, Olson, Stedman,                                                                   
Stevens, Stoltze, Meyer                                                                                                         
                                                                                                                                
and so, Amendment No. 2 failed.                                                                                                 
                                                                                                                                
Senator Wielechowski offered Amendment No. 3 :                                                                                   
                                                                                                                                
Page 17, line 1, through page 18, line 25:                                                                                      
     Delete all material and insert:                                                                                            
"* Sec. 19. AS 43.55.023(b) is amended to read:                                                                               
          (b)  Before January 1, 2014, a producer or explorer may elect                                                         
     to take a tax credit in the amount of 25 percent of a carried-                                                             
     forward annual loss. For lease expenditures incurred on and after                                                          
     January 1, 2014, and before January 1, 2016, to explore for,                                                               
     develop, or produce oil or gas deposits located north of 68 degrees                                                        
     North latitude, a producer or explorer may elect to take a tax credit                                                      
     in the amount of 45 percent of a carried-forward annual loss. For                                                          
     lease expenditures incurred during calendar year 2016 [ON                                                              
     AND AFTER JANUARY 1, 2016,] to explore for, develop, or                                                                    
     produce oil or gas deposits located north of 68 degrees North                                                              
     latitude, a producer or explorer may elect to take a tax credit in the                                                     
     amount of 35 percent of a carried-forward annual loss. For lease                                                       
     expenditures incurred north of 68 degrees North latitude, a