Legislature(2013 - 2014)
03/28/2014 03:30 PM House L&C
| Audio | Topic |
|---|---|
| Start | |
| HB60 | |
| HB230 | |
| HB281 | |
| HB288 | |
| HB302 | |
| HB328 | |
| HB253 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
HB 230-AIDEA BONDS FOR PROCESSING FACILITIES
3:35:12 PM
CHAIR OLSON announced that the next order of business would be
HOUSE BILL NO. 230, "An Act allowing the Alaska Industrial
Development and Export Authority to issue bonds for an oil or
gas processing facility; and creating the oil and gas
infrastructure fund to finance construction or improvement of an
oil or gas processing facility."
CHAIR OLSON removed his objection [Version N, which was adopted
on March 24, 2014, was before the committee].
3:35:48 PM
REPRESENTATIVE PAUL SEATON, Alaska State Legislature, explained
the changes in the proposed committee substitute (CS) for HB
230, Version N. He stated that this version will allow the
Alaska Industrial Development & Export Authority (AIDEA) to
issue development bonds for oil and gas processing facilities on
the North Slope in order to incentivize obtaining additional oil
in the pipeline, in particular from small independent operators.
In addition, on page 2, lines 21-23, at the suggestion of legal
services, language was added to make it easier to qualify for
tax credits. He commented that this language needs to be
further addressed; hence the pending amendment.
3:36:56 PM
REPRESENTATIVE JOHNSON moved to adopt Amendment 1, labeled 28-
LS1053\N.1, Nauman, 3/24/14, which read:
Page 1, lines 2 - 3:
Delete "providing a tax credit for the
construction or improvement of an oil or gas
processing facility;"
Page 2, lines 16 - 28:
Delete all material.
Renumber the following bill sections accordingly.
CHAIR OLSON objected for the purpose of discussion.
3:37:25 PM
REPRESENTATIVE SEATON explained that Amendment 1 will remove the
tax credit since it would also have inadvertently affected SB 21
tax credits. There was no intention to do so, he said.
CHAIR OLSON removed his objection. There being no further
objection, Amendment 1 was adopted.
3:37:54 PM
REPRESENTATIVE JOHNSON moved to adopt Amendment 2, labeled 28-
LS0153\N.2, Nauman, 3/25/14, which read:
Page 2, line 4:
Delete "for allow"
Insert "allow for"
CHAIR OLSON objected for purpose of discussion.
REPRESENTATIVE SEATON thanked Representative Saddler for
pointing out the inversion of words. He characterized this as
being a technical change.
There being no further objection, Amendment 2 was adopted.
3:38:50 PM
REPRESENTATIVE JOHNSON moved to report the proposed CS for HB
230, Version N, labeled 28-LS1053\N, Nauman, 3/17/14, as
amended, out of committee with individual recommendations and
the accompanying fiscal note. There being no objection, the
CSHB 230(L&C) was reported from the House Labor & Commerce
Standing Committee.
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