00                             SENATE BILL NO. 348                                                                         
01 "An Act approving the sale of royalty oil by the State of Alaska to Flint Hills Resources                               
02 Alaska, LLC, and Flint Hills Resources, LLC; and providing for an effective date."                                      
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  The uncodified law of the State of Alaska is amended by adding a new section                         
05 to read:                                                                                                              
06       ROYALTY OIL SALE CONTRACT WITH FLINT HILLS RESOURCES                                                              
07 APPROVED AND RATIFIED.  Subject to prior review and recommendation under                                                
08 AS 38.06.040 and 38.06.050 by the Alaska Royalty Oil and Gas Development Advisory                                       
09 Board and submission by the governor of the final terms of the Agreement, the agreement for                             
10 the sale and purchase of state royalty oil between the State of Alaska and Flint Hills                                  
11 Resources Alaska, LLC, and Flint Hills Resources, LLC, based on the proposed contract                                   
12 dated February 9, 2004, is approved and ratified.                                                                       
13    * Sec. 2.  This Act takes effect immediately under AS 01.10.070(c).