Legislature(2013 - 2014)SENATE FINANCE 532
03/12/2013 04:00 PM Senate FINANCE
| Audio | Topic |
|---|---|
| Start | |
| SB21 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| += | SB 21 | TELECONFERENCED | |
| + | TELECONFERENCED |
SENATE BILL NO. 21
"An Act relating to appropriations from taxes paid
under the Alaska Net Income Tax Act; relating to the
oil and gas production tax rate; relating to gas used
in the state; relating to monthly installment payments
of the oil and gas production tax; relating to oil and
gas production tax credits for certain losses and
expenditures; relating to oil and gas production tax
credit certificates; relating to nontransferable tax
credits based on production; relating to the oil and
gas tax credit fund; relating to annual statements by
producers and explorers; relating to the determination
of annual oil and gas production tax values including
adjustments based on a percentage of gross value at
the point of production from certain leases or
properties; making conforming amendments; and
providing for an effective date."
4:08:36 PM
Co-Chair Meyer explained the changes in the CS: the base
rate had been raised from 25 to 30 and the gross revenue
exclusion (GRE) was changed from 30 to 20.
4:09:45 PM
JACK RODERICK, SELF, ANCHORAGE (via teleconference),
testified against SB 21. He felt that oil production
decline and oil distribution decline were inevitable. He
stated that a substantial change in the tax structure would
result in too much legislative work at a later date. He
stressed that there should be no changes in the current
law, except slight changes in progressivity. He pointed out
that the reserves in the legacy fields had been known for
decades. Oil companies had known about those reserves for
over thirty years, so the companies should not be given a
tax break in order to produce that oil. He relayed that
ExxonMobil discovered oil at Point Thompson before the
Trans-Alaska Pipeline System (TAPS) was in operation, but
ExxonMobil had not resumed exploration since that Point
Thompson discovery. He shared that British Petroleum (BP)
had not participated in new exploration since 1985. He
stressed that tax breaks should not be given to companies
that were not participating in new exploration. He
reiterated that the legislature should examine the issue in
more depth, and bring the issue forward in the next
legislative session.
4:12:38 PM
LYNN C. JOHNSON, SELF, ANCHORAGE (via teleconference),
spoke in favor of SB 21. He felt that Alaska needed to be
more competitive with other oil producing basins. He
remarked that oil production rates in North Dakota and
Texas were higher than Alaska. He stressed that investment
capital was directed to regions and projects with the best
overall rate of return. Alaska was a high cost basin due to
geography and climate; and was soon to be fourth in
domestic production among other oil producing states. He
stressed that meaningful tax reform should be fair to
Alaskans, encourages new production, is simple, and is
durable. He stressed that during the three-year oil tax
reform conversation in the legislature, TAPS throughput had
declined by almost 100,000 barrels per day. Alaska could
not afford further decline or delay of oil tax reform.
4:14:29 PM
RADA KHADJINOVA, SELF, ANCHORAGE (via teleconference),
spoke in favor of SB 21. She shared that she had received
three degrees from the University of Alaska Anchorage
(UAA), including a degree in Environmental Regulation and
Permitting. She would like to use her degree in a prominent
field of study, specifically the oil and gas industry. She
stressed that Alaska needed to be competitive with other
oil producing nations and states. She felt that Alaska's
Clear and Equitable Share (ACES) was not working to
Alaska's benefit. She shared that the decision about oil
tax reform should be made based on the resource development
of the state. She felt that promoting resource development
would encourage economic development. She stressed that
Alaska was not an attractive oil producing basin, so it was
imperative that Alaska find a way to remain competitive in
the oil industry. She felt that oil tax reform would
encourage Alaska to collectively invest its creative energy
into diversifying its economy to point where someday Alaska
could be in an enviable position by making educated choices
about which industries it wants to attract or repel. She
felt that all tax reform should be suited for the current
economic climate.
4:16:58 PM
LARRY HOWLE, SELF, ANCHORAGE (via teleconference),
testified in support for SB 21. He stressed the importance
of stemming the decline of oil production. He relayed that
in the mid-1960s, his father moved his young family to
Kenai. As a teenager, he attended school and worked prior
to TAPS. He stressed that, at that time, jobs were not
plentiful and the economy was not robust. He shared that he
was the first person in his family to attend college. He
paid for college with the money he had earned from a leave
of absence from school to work as an apprentice welder on a
pipe gang north of the Brooks Range in 1976 and 1977. Like
many Alaskans, he had benefitted from 35 years of Alaska
North Slope (ANS) production. In 2005, he and his wife
attended graduate school to study construction management.
His objective in studying construction management was to
return to Alaska to work on the Alaska gas line project,
but that project did not occur. He was offered a job with
an Alaskan based oil fields service company. He shared a
personal story related to a poor economy based on the lack
of oil production. He explained that he had benefitted from
35 years of Alaska North Slope oil production. He remarked
that he had received a graduate degree, in anticipation of
the proposed gas line. He remarked that he may not be
working on the gas line, but worked in the private sector.
He felt that the Alaskan community was extremely fearful of
the TAPS throughput decline.
4:22:02 PM
SANDRA UDEHOVEN, SELF, ANCHORAGE (via teleconference),
testified in support of SB 21. She shared that her family
moved to Alaska in 1969, and faced some very "lean times."
the economic climate changed soon thereafter. She felt that
the economy was thriving in the 1970s, which was
immediately following the building of TAPS. She stayed in
Alaska to raise her own children. She alleged that Alaska
was experience mass population exodus, because many
residents were unemployed, and were seeking employment
elsewhere. She wanted more businesses in Alaska, and the
current businesses the opportunity for growth. She remarked
that Alaska was bursting with natural resources, but they
were not currently accurately exploited. She felt that her
children should benefit from the booming economy that oil
production and encouragement would provide. She commented
that there were many Alaskans who were unemployed, because
the natural resources were not properly explored.
4:25:36 PM
JEANINE ST. JOHN, SELF, ANCHORAGE (via teleconference),
testified in support of SB 21. She understood the
difficulty in making a decision regarding oil and gas tax
reform. She felt that ACES was broken, and the decline in
oil production was a serious risk to Alaska's future. She
stressed that the oil tax reform should be as simple as
possible; consistent through changing oil prices; places
Alaska in a competitive position; and were sufficient to
attract the investment from the explorers and producers.
She urged the committee to make a decision in the current
session regarding oil and gas tax reform. She felt that
there had been accurate and helpful testimony; and the
committee was focused on the right track.
4:29:03 PM
Co-Chair Meyer encouraged individuals to send written
testimony to the Senate Finance Committee.
4:29:32 PM
ROGER C. BURGGARF, SELF, FAIRBANKS (via teleconference),
testified in support of SB 21, but felt there should be
some modifications. He understood that Alaska's economy was
based almost wholly on oil revenues to cover the cost of
government and needed capital improvements. He stressed
that failure to increase oil production in Alaska would
destroy the economic liability of the economy; and would
destroy the opportunities for Alaska's people in government
and private industry to provide for their families. He
remarked that past legislators had failed to recognize the
issue of decreased oil production. He stressed that there
needed to be immediate action to encourage the oil
companies to invest in Alaska. He felt that oil tax reform
would energize and encourage investment by the oil
companies. A strong infrastructure was necessary for
Alaska's economic future. He felt that a plan was necessary
to improve Alaska's competitiveness. He stressed that ACES
was not currently working to encourage investment in
Alaska.
4:32:34 PM
GARY ATWOOD, SELF, FAIRBANKS (via teleconference),
testified in support of SB 21. He shared that he had lived
in interior Alaska for nearly 60 years, was a teamster for
58 years, and was the business manager for the teamsters
during the building of TAPS. He stressed that he had helped
build TAPS, so the he understood the concept of oil and gas
exploration and production first hand. He remarked that
there were some oil companies that had stopped investing in
Alaska, because Alaska was not an attractive place for oil
production investment. Alaska needed immediate and
effective tax reform.
4:35:09 PM
TERRI FROESE, CHAIR, FAIRBANKS CHAMBER OF COMMERCE BOARD OF
DIRECTORS, FAIRBANKS (via teleconference), testified in SB
21. She stated that she was a small business owner in
Fairbanks. She stated that the Fairbanks Chamber of
Commerce represented over 700 businesses and organizations
throughout the interior of Alaska. Its primary was business
advocacy; but its mission was to promote a greater economic
environment in Fairbanks to remain an attractive place for
both business and community. The Chamber's top, critical
priority for the current legislative session was to
encourage increased oil production by encouraging the
legislature and administration to establish competitive
investment opportunities through taxation that would
facilitate additional oil exploration, development, and
increased production. She stressed the urgency of oil tax
reform to ensure health and viability of TAPS. She shared
that the Chamber supported the governor's four guiding
principles for tax reform: it must be fair to Alaskans, it
must encourage new production from all sources, it must be
simple, and in must be durable for the long-term to keep
Alaska competitive. She encouraged the legislature to take
the necessary steps in the current legislative session to
make Alaska more competitive and ensure the future of TAPS.
She applauded the legislature's efforts in regards to
proper oil and gas tax reform.
4:37:12 PM
KARL GOHLKE, FRONTIER SUPPLY COMPANY, FAIRBANKS (via
teleconference), spoke in support of SB 21. He stated that
the proposed legislation would encourage oil development.
He referred to an article in the Alaska Journal of
Commerce. He felt that the bill promoted economic
stimulation and would encourage new production. He stressed
that the recent lack of oil production was because of the
lack of attraction in investment in Alaska. He pointed out
that new oil production would encourage economic growth
across the state; and meaningful reform was necessary for
Alaska to succeed and remain competitive in the oil and gas
industry.
4:40:38 PM
TIM GUNDERSON, SELF, NORTH POLE (via teleconference), spoke
in support of SB 21. He explained that he had worked
directly in the oil industry since 1964. He wanted all of
his children, grandchildren, and great-grandchildren to
have good jobs in Alaska. He announced that there were many
people who were not from Alaska working in Prudhoe Bay, but
he stressed that Alaskans should be working in the oil
industry to keep the economy of Alaska strong. He
recommended the bill be written to state that if there were
more Alaskans working in the oil industry, the greater the
tax breaks.
4:43:08 PM
DELBERT PARR, SELF, FAIRBANKS (via teleconference), voiced
support of SB 21. He remarked that Alaska had some of the
highest oil tax rates in the nation. Corporate capital was
limited, and only the most profitable profits in a
company's portfolio get proper funding. He felt that oil
production investors were investing in locations with the
greatest possible return. He announced that Alaska needed
new policy that encouraged long-term planning investment
and new production in Alaska. Investment was the key to
halting the steeping decline in oil production and putting
more oil in TAPS.
4:44:28 PM
JERRY AHWINONA, SELF, ANCHORAGE (via teleconference),
testified against SB 21, and any subsequent versions of the
bill. He believed that ACES had not received one audit
since 2007, and remarked that ACES had generated wind fall
profits for the State and the oil industry. He thought that
ACES had not contributed to the downturn in the State's
business, profit margins, and budget. He announced that
ACES had helped to inflate the constitutional budget
reserve to over $14 billion, with a $45 billion permanent
fund. He reiterated that ACES was a successful program. He
remarked that North Dakota was not an attractive place to
live, because its residents paid income tax and statewide
sales tax. He hoped Alaska could remain flexible with the
oil industry, while diversifying its budget income to more
than one prominent industry.
4:47:56 PM
CARL BENSON, SELF, ANCHORAGE (via teleconference),
testified against SB 21. He remarked that the tax breaks
made to the oil companies in the bill far exceeded the
education funding cuts that were recently proposed in the
current operating budget. He announced that $3.5 million to
the Fairbanks School District was 0.17 percent of the $2
billion oil industry tax reduction. He felt that the needs
of the state needed to be addressed before tax cuts could
be made to the oil industry. He pointed out that the tax
system referred to the "steep rates", but he did not feel
that Alaska had steep taxes. He felt that Alaska had
average oil taxes. He remarked that it was unfair to
compare Alaska to North Dakota, because North Dakota did
not own the land that the oil is drilled from. He felt that
comparing Alaska to Norway was apt. Norway's earnings on
their permanent fund was larger than Alaska's, because
Norway did not "give away" millions of dollars each year.
4:51:08 PM
PAUL D. BERAN, SELF, JUNEAU, testified against SB 21. He
stressed that he was in support of the progressive tax and
against the governor's proposed tax reform. He remarked
that Alaska should not become "captive" to out of state
companies. He announced that the oil industry had cried for
stability and consistency when ACES was passed in 2007. He
felt that the voice for consistency and stability was
currently silent, because the oil industry was begging for
more tax breaks. He pointed out that the McDowell Group had
recently reported that the North Slope oil and gas industry
had added more than 5000 new jobs from 2000 to 2010, which
was double its previous employment rate. From 2007 to 2011,
North Slope oil spending had increased an average of $1.3
billion per year. He felt that the large oil companies did
not care about the people of Alaska. He remarked that the
court mandated fine for the Exxon Valdez oil spill was $5
billion in 1989; but after repeated litigation, the fine
had been reduced to $7.5 million, but were reluctant to pay
any interest. He explained that ConocoPhilips was
advertising itself as "Alaska's oil company", but that
Alaska had no oil company. He encouraged the committee to
keep the progressive tax. He stressed that the oil belonged
to the state and its people.
4:55:15 PM
BARBARA HUFF TUCKNESS, DIRECTOR OF GOVERNMENTAL AND
LEGISLATIVE AFFAIRS, TEAMSTERS LOCAL 959, spoke in support
of SB 21. She expressed concern about the decrease in oil
production. She stressed that jobs in the oil industry
should be focused towards Alaskans. She remarked that oil
was a product that was in great demand, and did not feel
that there needed to be a high price only to sell less. She
remarked that the three main issues that the teamsters
focused on were oil and gas tax reform, public school
funding, and the cost of health care. She reiterated the
importance of hiring Alaskan workers.
4:58:51 PM
BILL CORBUS, MEMBER, MAKE ALASKA COMPETITIVE COALITION,
JUNEAU, testified in support of SB 21. He announced that he
was the former commissioner of the Department of Revenue
from 2003 to 2006 in the Murkowski administration. He
participated directly in the formulation of Economic Limit
Factor (ELF), in the formulation of the Petroleum Profits
Tax (PPT). He was against the progressive tax as outlined
in ACES. He understood that modifying the credit system was
necessary. He felt that the legislation would encourage
investment in order to stem the declining oil production.
5:01:12 PM
CRYSTAL NYGARD, MATSU BUSINESS ALLIANCE, MATSU (via
teleconference), spoke in support of SB 21. She shared that
she was as small business owner and one of the cofounders
of the Matsu Business Alliance. She was also a parent of
three teenage boys. She shared that there were many
colleges outside of the state that were recruiting her sons
for their engineering and business departments She stressed
the importance of her children attending college in a state
with a thriving economy, long-term employment options, and
a good education. She felt that Alaska needed to paint a
picture of a thriving oil and gas operations. She felt that
leadership with long-term investment in the state was
necessary to become an attractive environment for business
and economic investment. She urged the committee to listen
to the market and future generations.
5:03:58 PM
MARVIN YODER, MATSU BUSINESS ALLIANCE, MATSU (via
teleconference), testified in support of SB 21. He stressed
that many residents of the Matsu were focused on growing
private business. He felt that government should be given
less money in order to support. He felt that the passage of
SB 21 was a fair way to allow more private business in
Alaska.
5:05:25 PM
DAVID TRANTHAM, SELF, BETHEL (via teleconference), spoke
against SB 21. He felt that the legislation was not fair
for all Alaskans. He remarked that ACES had helped the
State build a $19 billion savings account, and all oil
revenue had helped the permanent fund grow. He felt that
ACES needed minor changes, but did not need overall reform.
He remarked that the native corporations may be able to
assist in getting more oil into TAPS. He urged the
committee to take time with the legislation, and converse
with as many Alaskans as possible. He reminded the
committee that they were accountable for their actions.
5:09:04 PM
TROY MCALLISTER, SELF, KENAI (via teleconference), spoke in
support of SB 21. He remarked that TAPS flow was the lowest
it had ever been, so immediate oil production was
imperative. North Slope oil production had declined by
almost 70 percent since its peak of 2.1 billion barrels per
day in 1988, which accounted for more than 20 percent of
domestic oil production. He felt that there new oil field
production was too many years away, so immediate oil
production from existing fields was necessary. He stated
that Alaska needed to focus on investment into existing
fields, so production could come online in a shorter time
frame as part of an overall development strategy. He noted
that Alaska had strong energy resources, but had one of the
highest petroleum tax structures in the country. He felt
that Alaska had lost many qualified craftsmen,
professionals, and valuable equipment to more tax friendly
location. He shared that his company had recently, but
reluctantly, began pursuit of operations in Texas and North
Dakota in order to remain in business. He stressed that
Alaska needed to demonstrate to investors that it was
willing and ready to work cooperatively with business and
industry to create a more robust investment climate as
deployment of new expensive technology would be required to
recover and fully develop significant portions of the
remaining state resources.
5:13:04 PM
MONTE DAVIS, SELF, HOMER (via teleconference), testified in
favor of SB 21. He explained that there were extensive
financial benefits of the oil industry. He felt that the
bill was fair to Alaskans and fairly simple. He profoundly
disagreed with progressivity. He remarked that if TAPS did
not have oil running through it, Alaska's economy would
greatly suffer. He stressed that tax policy had a great
effect on the oil and gas industry. The number of barrels
of oil running through TAPS was rapidly declining, and
remarked that oil and gas tax reform was relevant and
imminent.
5:16:12 PM
KELLY WALTERS, SELF, ANCHORAGE (via teleconference), spoke
in opposition of SB 21. He felt that all Alaskans were part
of the oil business. He remarked that the governor and some
legislators had created uncertainty, because many of the
large oil companies had simply been waiting for the taxes
to decrease before they invest in Alaskan oil. He stated
that any new tax reform should not be expensive for the
State, because the modifications in the tax structure
should be in line with creating new production. He felt
that any oil tax reduction should be tied to new oil
production. He remarked that Alaska deserved to reap the
benefits of high oil prices. He pointed out that Alaska did
not have the highest oil tax in North America, because
Mexico had higher oil tax rates than Alaska.
5:21:36 PM
MICHAEL JESPERSON, SELF, ANCHORAGE (via teleconference),
testified in support of SB 21. He wanted the oil companies
to invest in Alaska. He felt that, because of the decline
in TAPS, his children would be forced to seek employment
outside of the state. He remarked that the economy should
be changed immediately, in order to keep jobs and people in
Alaska. He did not feel that the current economy was
healthy, because, as a salesman, he made less money in 2012
than he did in 2008. He shared that he would like to see an
even lower tax than what was proposed in SB 21, but felt
that the legislation was much better than ACES.
5:24:07 PM
RACHAEL PETRO, PRESIDENT, ALASKA STATE CHAMBER OF COMMERCE,
ANCHORAGE (via teleconference), spoke in support of SB 21.
She stressed that the members of the Alaska State Chamber
of Commerce assigned meaningful oil and gas tax reform as
the greatest legislative issue in Alaska. She stressed that
there were thousands members of local chambers of commerce
who agreed that meaningful oil and gas tax reform was the
most relevant issue facing Alaskans. She thanked the
committee for their focus on oil and gas tax reform.
5:26:36 PM
GARY DIXON, MEMBER, TEAMSTERS LOCAL 959, ANCHORAGE (via
teleconference), testified in support of SB 21. He
supported stability in the current tax system. He felt that
oil tax reform would encourage more oil production, more
oil in TAPS, and more Alaskans hired in the industry's
jobs.
5:27:54 PM
SONYA FUNARO, SELF, ANCHORAGE (via teleconference),
testified in support of SB 21. She shared that she worked
in project performance management and was employed by an
oil services company in Anchorage. She remarked that
declining oil production would result in a lower permanent
fund dividend (PFD). She shared that she had recently been
a part of a construction project on the North Slope that
included new production, engineering, fabrication, and
construction in 2010. After that job ended, many of the
workers on the project left the state to find other jobs.
She stressed that many of Alaska's industries depended on
the stability of oil and gas production. She felt that a
strong economy would benefit her children.
5:30:05 PM
DEANTHA CROCKETT, EXECUTIVE DIRECTOR, ALASKA MINERS
ASSOCIATION, ANCHORAGE (via teleconference), testified in
support of SB 21. She remarked that a healthy oil and gas
industry was healthy for the mining industry. She felt that
the continued decline in oil and gas production and its
effect on the economy was frightening for the people of
Alaska. Alaska was an expensive and difficult place for oil
and gas operations, so an accessible oil tax structure was
imperative. She urged the committee to focus on increased
oil production in order to support the financial and
economic benefit of all Alaskans.
5:31:48 PM
AL CRAMER, SELF, ANCHORAGE (via teleconference), voiced
support of SB 21. He stated that oil tax and regulations
should be fair and simple to encourage exploration and
production.
5:32:29 PM
TOM LAKOSH, SELF, ANCHORAGE (via teleconference), testified
against SB 21, because he felt that it was
unconstitutional. He felt SB 21 was unconstitutional
because it failed to provide for the maximum benefit of
Alaskans for the use of its resources as mandated by the
constitution. The legislature must first verify that SB 21
would cause maximum benefit to Alaskans over the long term.
He felt that cost competitiveness in the oil and gas
industry did not translate to maximum revenue or utility of
the natural resources. He felt that the oil and other
hydrocarbon resources in Alaska were finite resources that
must be apportioned over the long term. He felt that
production should be maintained, in order to prevent
importation of petroleum products for use in Alaska. He
felt that lower production was inevitable, so maximum
revenue must be maintained over the long term.
5:35:51 PM
JOHN LAU, SELF, ANCHORAGE (via teleconference), testified
in support of SB 21. He shared the concern of previous
testifiers related to the decline in oil production on the
North Slope. He remarked that science and engineering did
not reflect that it was possible to lessen the decline
slope without significant and consistent confusion of
capital. He pointed out that Alaska lost approximately one
half the annual production, every ten years. Alaskan
prosperity would surely change, unless significant effort
was made to slow the decline. He urged the committee to
consider the long term projections. He pointed out the
North Slope exploration and production projects took both
time and investment with a magnitude much greater than
other domestic oil regions like North Dakota and Texas.
5:37:54 PM
Co-Chair Meyer handed the gavel to Vice-Chair Fairclough.
5:38:30 PM
LENNY RHUDE, SELF, CHUGIAK (via teleconference), voiced
support of SB 21. He shared that his daughters were
attending college out of the state, because the economy in
Alaska was so poor. He remarked that many people were
seeking jobs in the oil and gas industry outside of Alaska.
He felt that oil and gas tax reform was necessary for the
long term support of Alaskans. He announced that State
revenue would decline if oil production declined.
5:40:52 PM
KATI CAPOZZI, SELF, ANCHORAGE (via teleconference), spoke
in support of SB 21. She stated that this was her third
year in a row testifying before legislature advocating for
meaningful changes to the oil tax policy. She remarked that
since the first time she testified the supply of oil in
TAPS had dropped by about 68,000 barrels per day. She felt
that Alaska should experience increased investment, because
oil prices were at an all-time high. She reiterated that
oil tax reform conversations had been ongoing for three
years, so the time for meaningful change was imminent. She
urged the committee to act swiftly and adopt meaningful oil
tax legislation.
5:42:31 PM
TONY TENGS, SELF, JUNEAU, testified against SB 21. He felt
that the governor had expressed that the state was in an
economic upturn. He stressed that this radical change would
result in a loss of many jobs. The state depended on
financial benefit of the oil industry. He remarked that
some people may not understand that the benefit for the
State would be half of the current government take. He did
not feel that the price of oil would decrease. He pointed
out the work of many Alaskans to create ACES, and noted
that the creation of ACES was a historic bi-partisan
effort.
5:45:19 PM
ED GOHR, DELTA CONSTRUCTORS, ANCHORAGE (via
teleconference), spoke in support of SB 21. He shared that
his company was currently employing over 100 people working
full-time in North Dakota. He pointed out that North Dakota
was a more attractive investment location, because there
was actual capital project work. He stressed that the focus
should be on job growth, and Alaska was not competitive in
the oil industry.
5:47:02 PM
JASON BRUNE, SELF, ANCHORAGE (via teleconference),
testified in support of the concept of SB 21, but he felt
that the legislation needed to go further to employ
Alaskans. He stressed that the cost of oil production in
Alaska was much more expensive than the other oil basins
across the world. He felt that the progressivity portion of
ACES needed to be removed in order to put more oil in TAPS.
He felt that tax was an added cost that companies would
consider when examining where to invest. He stressed that
the royalties were a fair share for Alaska, but taxes were
a choice of legislators. He understood that Alaska was an
owner-state, so the money would be given to Alaskans
through royalties. He felt that significant changes should
be made to the tax regime in order to lure more companies
back to Alaska.
5:50:02 PM
AT EASE
5:50:55 PM
RECONVENED
Vice-Chair Fairclough stated that the committee would sit
and wait until 6pm to see if more testifiers signed up to
testify.
5:51:29 PM
AT EASE
5:56:14 PM
RECONVENED
5:56:14 PM
CAROLINE BOLAR, SELF, ANCHORAGE (via teleconference),
testified against SB 21. She shared that she had worked in
the oil industry for TAPS and Standard Oil. She felt that
British Petroleum, ExxonMobil, and ConocoPhilips were
fighting Alaskans with misinformation, massive
advertisement, and political donations. She stressed that
the producers were contractors. She felt that the
legislature had an opportunity to serve Alaskans, and the
legislators should not focus on reelection.
Vice-Chair Fairclough closed public testimony.
SB 21 was HEARD and HELD in committee for further
consideration.
| Document Name | Date/Time | Subjects |
|---|---|---|
| SB 21 Wettanen Testimony.pdf |
SFIN 3/12/2013 4:00:00 PM |
SB 21 |