2016-05-18                     Senate Journal                      Page 2853
Senator Wielechowski moved for the adoption of Amendment No. 5.                                                                 
Senator Giessel objected.                                                                                                       
                                                                                                                                
The question being: "Shall Amendment No. 5 be adopted?" The roll                                                                
was taken with the following result:                                                                                            
                                                                                                                                
SCS 2d CSHB 247(FIN)                                                                                                            
Second Reading                                                                                                                  
Amendment No. 5                                                                                                                 
                                                                                                                                
YEAS:  4   NAYS:  16   EXCUSED:  0   ABSENT:  0                                                                               
                                                                                                                                
Yeas:  Egan, Ellis, Gardner, Wielechowski                                                                                       
                                                                                                                                
Nays:  Dunleavy, Giessel, Hoffman, Huggins, Kelly, MacKinnon,                                                                   
McGuire, Micciche, Olson, Stedman, Stevens, Stoltze, Bishop,                                                                    
Coghill, Costello, Meyer                                                                                                        
                                                                                                                                
and so, Amendment No. 5 failed.                                                                                                 
                                                                                                                                
Senator Wielechowski offered Amendment No. 6 :                                                                                   
                                                                                                                                
Page 20, line 24, through page 21, line 28:                                                                                     
     Delete all material and insert:                                                                                            
"* Sec. 25. AS 43.55.024(j) is amended to read:                                                                               
          (j)  A producer may apply against the producer's tax liability                                                        
     for the calendar year under AS 43.55.011(e) a tax credit in the                                                            
     amount specified in this subsection for each barrel of oil taxable                                                         
     under AS 43.55.011(e) that does not receive a reduction in the                                                         
     gross value at the point of production under [MEET ANY OF                                                              
     THE CRITERIA IN] AS 43.55.160(f) or (g) and that is produced                                                               
     during a calendar year after December 31, 2013, from leases or                                                             
     properties north of 68 degrees North latitude. A tax credit under                                                          
     this subsection may not reduce a producer's tax liability for a                                                            
     calendar year under AS 43.55.011(e) below the amount calculated                                                            
     under AS 43.55.011(f). The amount of the tax credit for a barrel of                                                        
     taxable oil subject to this subsection produced during a month of                                                          
     the calendar year from a lease or property                                                                             
              (1)  north of 68 degrees North latitude, within a unit                                                        
     that had first commercial production within 20 years after                                                             
     establishment under AS 38.05.180(p), and within a unit or                                                              
     nonunitized reservoir that has cumulatively produced