2016-05-18                     Senate Journal                      Page 2857
SCS 2d CSHB 247(FIN)                                                                                                            
Second Reading                                                                                                                  
Amendment No. 7                                                                                                                 
                                                                                                                                
YEAS:  4   NAYS:  16   EXCUSED:  0   ABSENT:  0                                                                               
                                                                                                                                
Yeas:  Ellis, Gardner, Wielechowski, Egan                                                                                       
                                                                                                                                
Nays:  Giessel, Hoffman, Huggins, Kelly, MacKinnon, McGuire,                                                                    
Micciche, Olson, Stedman, Stevens, Stoltze, Bishop, Coghill, Costello,                                                          
Dunleavy, Meyer                                                                                                                 
                                                                                                                                
and so, Amendment No. 7 failed.                                                                                                 
                                                                                                                                
Senator Wielechowski offered Amendment No. 8 :                                                                                   
                                                                                                                                
Page 6, following line 11:                                                                                                      
     Insert a new bill section to read:                                                                                         
"* Sec. 14. AS 43.55.011(e) is amended to read:                                                                               
          (e)  There is levied on the producer of oil or gas a tax for all                                                      
     oil and gas produced each calendar year from each lease or                                                                 
     property in the state, less any oil and gas the ownership or right to                                                      
     which is exempt from taxation or constitutes a landowner's royalty                                                         
     interest or for which a tax is levied by AS 43.55.014. Except as                                                           
     otherwise provided under (f), (j), (k), (o), and (p) of this section,                                                      
     for oil and gas produced                                                                                                   
              (1)  before January 1, 2014, the tax is equal to the sum of                                                       
                   (A)  the annual production tax value of the taxable oil                                                      
          and gas as calculated under AS 43.55.160(a)(1) multiplied by                                                          
          25 percent; and                                                                                                       
                   (B)  the sum, over all months of the calendar year, of                                                       
            the tax amounts determined under (g) of this section;                                                              
              (2)  on and after January 1, 2014, and before January 1,                                                          
     2022, the tax is equal to the sum of                                                                                   
                   (A)  the annual production tax value of the taxable oil                                                  
          and gas as calculated under AS 43.55.160(a)(1) multiplied by                                                          
          35 percent; and                                                                                                   
                   (B)  the sum, over all months of the calendar year,                                                      
          of the tax amounts determined under (q) of this section;                                                          
                (3)  on and after January 1, 2022, the tax for                                                                 
                   (A)  oil is equal to the sum of