Legislature(2009 - 2010)BUTROVICH 205
03/18/2010 03:30 PM Senate RESOURCES
| Audio | Topic |
|---|---|
| Start | |
| SB287 | |
| SB243 | |
| SB242 | |
| SB228 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| *+ | SB 294 | TELECONFERENCED | |
| *+ | SB 287 | TELECONFERENCED | |
| += | SB 228 | TELECONFERENCED | |
| + | TELECONFERENCED | ||
| = | SB 242 | ||
| = | SB 243 | ||
SB 242-GEOTHERMAL RESOURCE TAX CREDITS
5:12:30 PM
CO-CHAIR MCGUIRE announced the next order of business to come
before the committee was SB 242.
CO-CHAIR MCGUIRE moved to adopt conceptual Amendment 1.
CO-CHAIR WIELECHOWSKI objected for the purpose of discussion.
MR. PAWLOWSKI said the first change in conceptual Amendment 1 is
based on input from the Department of Revenue and is in the
exploration tax credit section on page 1, line 14 and page 2,
line 1. The new language in the amendment says [the exploration
credit] cannot be carried forward until following the year the
exploration expenditure was incurred. He said this clarifies a
mistake in the drafting.
The second change offered in conceptual amendment 1 is on page
3, line 8 in the definition of qualified exploration
expenditure. The definition reads "to explore a previously
unknown geothermal resource" but because the state leased the
area for a geothermal resource, "previously unknown" does not
make sense. The amendment deletes those words.
CO-CHAIR WIELECHOWSKI removed his objection and conceptual
Amendment 1 was adopted.
CO-CHAIR WIELECHOWSKI moved to adopt Amendment 2, labeled 26-
LS1347\R.1.
AMENDMENT 2
OFFERED IN THE SENATE BY SENATOR WIELECHOWSKI
TO: SB 242
Page 2, following line 19:
Insert a new subsection to read:
"(e)A person that receives a credit under
(b) or (c) of this section,
(1)shall reduce a cost related to the
geothermal resource that would otherwise be included
in a proceeding for determining a just and reasonable
rate under AS 42.05.381 by the amount of the credit;
and
(2)may not elect to be exempt from the
provisions of AS 42.05."
Reletter the following subsection accordingly.
CO-CHAIR MCGUIRE objected for purposes of discussion.
CO-CHAIR WIELECHOWSKI explained that amendment 2 [labeled 26-
LS1347\R.1] says any production tax credits that are received
shall pass through to the consumer. The second part of the
amendment, line 7, says that anyone who receives this credit is
required to be regulated by the RCA. This is an attempt to
protect the consumers by making sure these fairly significant
benefits and credits pass through to the consumer.
CO-CHAIR MCGUIRE removed her objection and seeing no further
objection, Amendment 2 was adopted.
SENATOR WIELECHOWSKI moved to report CS for SB 242, LS1347\R as
amended, from committee with individual recommendations and
accompanying fiscal notes. There being no objection, CSSB
242(RES) moved from the Senate Resources Standing Committee.
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