Legislature(1993 - 1994)
04/19/1994 08:30 AM Senate FIN
Audio | Topic |
---|
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
CS FOR HOUSE BILL NO. 498(FIN) An Act providing for exploration incentive credits for activities involving locatable and leasable minerals and coal deposits on certain land in the state; and providing for an effective date. Co-chair Pearce directed that CSHB 498(Fin) be brought on for discussion and explained that it began the same as SB 371 which was heard by committee at the prior meeting. She then referenced Amendment No. 1, by Senator Kerttula, and Amendment No. 2, by Co-chair Frank. Senator Kelly voiced his understanding that previous discussion of the issue included limiting the bill to new exploration projects. He then noted that the oil and gas incentive credit earlier passed by the Senate reflects a "much tighter bill." He spoke to provisions of that legislation and asked that CSHB 498(Fin) be held for consideration at a subsequent meeting. Senator Kerttula asked that department staff speak to his local hire amendment. Co-chair Pearce also noted that Amendment No. 2, by Co-chair Frank, was requested by the department and asked that staff come before committee at this time. JERRY GALLAGHER, Director, Division of Mining, Dept. of Natural Resources, explained that Amendment No. 2 relates to a concern expressed in Senate Resources regarding impact on trust lands. The proposed amendment would allow the department to make that determination by regulation. He voiced his belief that credits could not be granted on trust lands. Senator Rieger inquired concerning amounts involved in retroactive provisions back to January 1, 1994. Mr. Gallagher remarked that no real answer is available since the credit only applies to new mines that go into production within the next fifteen years. Ongoing exploration as of this date would be covered by the retroactive clause. Senator Rieger asked if the credit would be applied "mine by mine." Mr. Gallagher responded affirmatively. He directed attention to page 3, line 2, and noted that addition of "based on the production from the parcel or site" ties the credit to a specific piece of land. Both exploration expenditures and the credit are property specific. Co-chair Pearce directed that the bill be HELD for action at the evening meeting. End: SFC-94, #64, Side 2 Begin: SFC-94, #66, Side 1
Document Name | Date/Time | Subjects |
---|