Legislature(2005 - 2006)

02/01/2006 09:07 AM W&M


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                    ALASKA STATE LEGISLATURE                                                                                  
           HOUSE SPECIAL COMMITTEE ON WAYS AND MEANS                                                                          
                        February 1, 2006                                                                                        
                           9:07 a.m.                                                                                            
                                                                                                                                
MEMBERS PRESENT                                                                                                               
                                                                                                                                
Representative Bruce Weyhrauch, Chair                                                                                           
Representative Ralph Samuels                                                                                                    
Representative Paul Seaton                                                                                                      
Representative Peggy Wilson                                                                                                     
                                                                                                                                
MEMBERS ABSENT                                                                                                                
                                                                                                                                
Representative Norman Rokeberg                                                                                                  
Representative Max Gruenberg                                                                                                    
Representative Carl Moses                                                                                                       
                                                                                                                                
COMMITTEE CALENDAR                                                                                                            
                                                                                                                                
HOUSE BILL NO. 63                                                                                                               
"An  Act  relating  to  the oil  and  gas  properties  production                                                               
(severance)  tax as  it applies  to oil;  establishing a  minimum                                                               
rate of tax for certain fields  of five percent; providing for an                                                               
adjustment to increase  the tax collected when  oil prices exceed                                                               
$20 per  barrel and to reduce  the tax collected when  oil prices                                                               
fall below $16 per barrel; and  providing for relief from the tax                                                               
when  the  price   per  barrel  is  low  or   when  the  taxpayer                                                               
demonstrates  that  a  reduction  in  the  tax  is  necessary  to                                                               
establish or  reestablish production  from an  oil field  or pool                                                               
that would not otherwise be economically feasible."                                                                             
                                                                                                                                
     - HEARD AND HELD                                                                                                           
                                                                                                                                
HOUSE BILL NO. 223                                                                                                              
"An Act levying a tax on  certain known resources of natural gas,                                                               
conditionally repealing the  levy of that tax,  and authorizing a                                                               
credit for  payments of  that tax against  amounts due  under the                                                               
oil   and   gas   properties  production   (severance)   tax   if                                                               
requirements relating  to the  sale and  delivery of  the natural                                                               
gas are met; and providing for an effective date."                                                                              
                                                                                                                                
     - HEARD AND HELD                                                                                                           
                                                                                                                                
HOUSE BILL NO. 374                                                                                                              
"An  Act  relating  to  establishment  of  a  retirement  benefit                                                               
liability account  in the Department  of Revenue  and redirecting                                                               
deposit of annual dividends of the Alaska Housing Finance                                                                       
Corporation to that account; and providing for an effective                                                                     
date."                                                                                                                          
                                                                                                                                
     - BILL HEARING CANCELED                                                                                                    
                                                                                                                                
HOUSE BILL NO. 375                                                                                                              
"An Act relating to the  retirement benefit liability account and                                                               
appropriations  from  that  account;   relating  to  deposits  of                                                               
certain income earned  on money received as a result  of State v.                                                               
Amerada  Hess, et  al., 1JU-77-847  Civ.  (Superior Court,  First                                                               
Judicial District); and providing for an effective date."                                                                       
                                                                                                                                
     - BILL HEARING CANCELED                                                                                                    
                                                                                                                                
PREVIOUS COMMITTEE ACTION                                                                                                     
                                                                                                                                
BILL: HB 63                                                                                                                   
SHORT TITLE: OIL SEVERANCE TAX                                                                                                  
SPONSOR(S): REPRESENTATIVE(S) GARA                                                                                              
                                                                                                                                
01/12/05       (H)       READ THE FIRST TIME - REFERRALS                                                                        

01/12/05 (H) W&M, O&G, RES, FIN 03/18/05 (H) W&M AT 8:30 AM CAPITOL 106 03/18/05 (H) Heard & Held 03/18/05 (H) MINUTE(W&M)

01/13/06 (H) W&M AT 9:00 AM CAPITOL 106

01/13/06 (H) Heard & Held

01/13/06 (H) MINUTE(W&M) 02/01/06 (H) W&M AT 9:00 AM CAPITOL 106 BILL: HB 223 SHORT TITLE: NATURAL GAS PIPELINE INCENTIVE/ GAS TAX SPONSOR(S): REPRESENTATIVE(S) CROFT 03/17/05 (H) READ THE FIRST TIME - REFERRALS 03/17/05 (H) W&M, O&G, RES 04/25/05 (H) W&M AT 8:30 AM CAPITOL 106 04/25/05 (H) Heard & Held 04/25/05 (H) MINUTE(W&M)

01/11/06 (H) W&M AT 9:00 AM CAPITOL 106

01/11/06 (H) Heard & Held

01/11/06 (H) MINUTE(W&M)

01/18/06 (H) W&M AT 9:00 AM CAPITOL 106

01/18/06 (H) Heard & Held

01/18/06 (H) MINUTE(W&M)

01/25/06 (H) W&M AT 9:00 AM CAPITOL 106

01/25/06 (H) Heard & Held

01/25/06 (H) MINUTE(W&M) 02/01/06 (H) W&M AT 9:00 AM CAPITOL 106 WITNESS REGISTER No witnesses to record ACTION NARRATIVE CHAIR BRUCE WEYHRAUCH called the House Special Committee on Ways and Means meeting to order at 9:07:07 AM. Representatives Weyhrauch, Samuels, and Seaton were present at the call to order. Representative Wilson arrived as the meeting was in progress. HB 63-OIL SEVERANCE TAX 9:07:16 AM CHAIR WEYHRAUCH announced that the first order of business would be HOUSE BILL NO. 63, "An Act relating to the oil and gas properties production (severance) tax as it applies to oil; establishing a minimum rate of tax for certain fields of five percent; providing for an adjustment to increase the tax collected when oil prices exceed $20 per barrel and to reduce the tax collected when oil prices fall below $16 per barrel; and providing for relief from the tax when the price per barrel is low or when the taxpayer demonstrates that a reduction in the tax is necessary to establish or reestablish production from an oil field or pool that would not otherwise be economically feasible." 9:08:17 AM CHAIR WEYHRAUCH, having determined there was no further testimony or questions on HB 63, announced that the bill would be addressed at the next meeting before closing public testimony. [HB 63 was held over.] HB 223-NATURAL GAS PIPELINE INCENTIVE/ GAS TAX 9:11:07 AM CHAIR WEYHRAUCH announced that the final order of business would be HOUSE BILL NO. 223, "An Act levying a tax on certain known resources of natural gas, conditionally repealing the levy of that tax, and authorizing a credit for payments of that tax against amounts due under the oil and gas properties production (severance) tax if requirements relating to the sale and delivery of the natural gas are met; and providing for an effective date." CHAIR WEYHRAUCH, having determined there was no further testimony or questions on HB 223, announced that the bill would be brought up at the next meeting before closing public testimony. [HB 223 was held over.] 9:11:45 AM ADJOURNMENT There being no further business before the committee, the House Special Committee on Ways and Means meeting was adjourned at 9:11 a.m.

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