00 Enrolled HCR 29                                                                                                         
01 Suspending Rules 24(c), 35, 41(b), and 42(e), Uniform Rules of the Alaska State Legislature,                            
02 concerning Senate Bill No. 305, providing that the tax rate applicable to the production of oil                         
03 as the average production tax value of oil, gas produced in the Cook Inlet sedimentary basin,                           
04 and gas produced outside of the Cook Inlet sedimentary basin and used in the state increases                            
05 above $30 shall be 0.4 percent multiplied by the number that represents the difference                                  
06 between that average monthly production tax value and $30, or the sum of 25 percent and the                             
07 product of 0.1 percent multiplied by the number that represents the difference between that                             
08 average monthly production tax value and $92.50, except that the total rate determined in the                           
09 calculation may not exceed 50 percent; providing for an increase in the rate of tax on the                              
10 production of gas as the average production tax value on a BTU equivalent barrel basis of gas                           
11 produced outside of the Cook Inlet sedimentary basin and not used in the state increases                                
12 above $30; relating to payments of the oil and gas production tax; relating to availability of a                        
01 portion of the money received from the tax on oil and gas production for appropriation to the                           
02 community revenue sharing fund; and relating to the allocation of lease expenditures and                                
03 adjustments to lease expenditures.                                                                                      
04                                          _______________                                                                
05 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                             
06      That under Rule 54, Uniform Rules of the Alaska State Legislature, the provisions of                               
07 Rules 24(c), 35, 41(b), and 42(e), Uniform Rules of the Alaska State Legislature, regarding                             
08 changes to the title of a bill, are suspended in consideration of Senate Bill No. 305, providing                        
09 that the tax rate applicable to the production of oil as the average production tax value of oil,                       
10 gas produced in the Cook Inlet sedimentary basin, and gas produced outside of the Cook Inlet                            
11 sedimentary basin and used in the state increases above $30 shall be 0.4 percent multiplied by                          
12 the number that represents the difference between that average monthly production tax value                             
13 and $30, or the sum of 25 percent and the product of 0.1 percent multiplied by the number                               
14 that represents the difference between that average monthly production tax value and $92.50,                            
15 except that the total rate determined in the calculation may not exceed 50 percent; providing                           
16 for an increase in the rate of tax on the production of gas as the average production tax value                         
17 on a BTU equivalent barrel basis of gas produced outside of the Cook Inlet sedimentary basin                            
18 and not used in the state increases above $30; relating to payments of the oil and gas                                  
19 production tax; relating to availability of a portion of the money received from the tax on oil                         
20 and gas production for appropriation to the community revenue sharing fund; and relating to                             
21 the allocation of lease expenditures and adjustments to lease expenditures.