Legislature(2005 - 2006)
08/09/2006 11:11 AM House FIN
| Audio | Topic |
|---|---|
| Start | |
| SB3002 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
HOUSE FINANCE COMMITTEE
August 9, 2006
11:11 a.m.
CALL TO ORDER
Co-Chair Meyer called the House Finance Committee meeting to
order at 11:11:29 AM.
MEMBERS PRESENT
Representative Mike Chenault, Co-Chair
Representative Kevin Meyer, Co-Chair
Representative Bill Stoltze, Vice-Chair
Representative Mike Hawker
Representative Jim Holm
Representative Mike Kelly
Representative Beth Kerttula
Representative Bruce Weyhrauch
MEMBERS ABSENT
Representative Carl Moses
Representative Richard Foster
Representative Reggie Joule
ALSO PRESENT
William Corbus, Commissioner, Department of Revenue
PRESENT VIA TELECONFERENCE
None
SUMMARY
SB 3002 An Act relating to the Alaska Stranded Gas
Development Act; relating to municipal impact
money received under the terms of a stranded gas
fiscal contract; relating to determination of full
and true value of property and required
contributions for education in municipalities
affected by stranded gas fiscal contracts; and
providing for an effective date.
SB 3002 was REPORTED out of Committee with a "do
pass" recommendation and with a zero fiscal note:
REV #3.
11:11:46 AM
CS FOR SENATE BILL NO. 3002(NGD)
An Act amending the time allowed under the Alaska
Stranded Gas Development Act for the commissioner of
revenue to summarize public comments, propose
amendments, if any, and make findings and a
determination; and providing for an effective date.
WILLIAM CORBUS, COMMISSIONER, DEPARTMENT OF REVENUE,
observed that under the Stranded Gas Development Act the
Administration has 30 days following the closure of the
public comment process to prepare a summary of public
comments received. The Department renegotiates the contract
and issues the final fiscal interest findings. The purpose
of the legislation is to extent the time allowed for
negotiation and the final fiscal interest findings for up to
th
120 days. The public process was begun on May 10 and ended
on July 24, 2006 (75 days). Included in the public process
were: eleven days of legislative briefings, seven public
hearings, and six public forums by the Administration. The
Administration received 2,158 comments, which need to be
analyzed. He stressed that additional time was needed to
complete the process of renegotiating the contract and
preparing findings.
11:15:19 AM
Commissioner Corbus observed that contract analysis and
renegotiation is also partially dependent on [the adoption
of] Petroleum Production Tax (PPT) legislation, which added
to the delay.
11:16:24 AM
In response to a question by Representative Stoltze,
Commissioner Corbus reiterated that the public process ended
on July 24, 2006. The legislation would extend the process
to 120 days (toward the end of November).
11:18:46 AM
Co-Chair Chenault noted the two previous fiscal notes
pertained to previous versions and would not accompany the
legislation. He observed that a new zero fiscal note, dated
8/9/06, would be issued by the Department of Revenue.
11:19:29 AM
Representative Hawker MOVED to report CSSB 3002(NGD) out of
Committee with the accompanying new REV fiscal note. There
being NO OBJECTION, it was so ordered.
SB 3002 was REPORTED out of Committee with a "do pass"
recommendation and with a zero fiscal note: REV #3.
ADJOURNMENT
The meeting was adjourned at 11:20 AM.
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