02/01/2006 09:07 AM House W&M
| Audio | Topic |
|---|---|
| Start | |
| HB63 | |
| HB223 | |
| Adjourn |
+ teleconferenced
= bill was previously heard/scheduled
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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