00                            SENATE BILL NO. 192                                                                         
01 "An Act relating to the oil and gas production tax; and providing for an effective date."                               
02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
03    * Section 1. AS 43.55.011(g) is amended to read:                                                                   
04            (g)  For each month of the calendar year for which the producer's average                                    
05       monthly production tax value under AS 43.55.160(a)(2) for a [PER] BTU equivalent                              
06       barrel of the taxable oil and gas is more than $30, the amount of tax for purposes of                             
07       (e)(2) of this section is [DETERMINED BY MULTIPLYING THE MONTHLY                                                  
08       PRODUCTION TAX VALUE OF THE TAXABLE OIL AND GAS PRODUCED                                                          
09       DURING THE MONTH BY THE TAX RATE CALCULATED AS FOLLOWS:                                                           
10                 (1)  IF THE PRODUCER'S AVERAGE MONTHLY PRODUCTION                                                       
11       TAX VALUE PER BTU EQUIVALENT BARREL OF THE TAXABLE OIL AND                                                        
12       GAS FOR THE MONTH IS NOT MORE THAN $92.50, THE TAX RATE IS] 0.4                                                   
13       percent multiplied by the number that represents the difference between that average                              
14       monthly production tax value for a [PER] BTU equivalent barrel and $30 [; OR                                  
15                 (2)  IF THE PRODUCER'S AVERAGE MONTHLY PRODUCTION                                                       

01       TAX VALUE PER BTU EQUIVALENT BARREL OF THE TAXABLE OIL AND                                                        
02       GAS FOR THE MONTH IS MORE THAN $92.50, THE TAX RATE IS THE SUM                                                    
03       OF 25 PERCENT AND THE PRODUCT OF 0.1 PERCENT MULTIPLIED BY THE                                                    
04       NUMBER THAT REPRESENTS THE DIFFERENCE BETWEEN THE AVERAGE                                                         
05       MONTHLY PRODUCTION TAX VALUE PER BTU EQUIVALENT BARREL                                                            
06       AND $92.50, EXCEPT THAT THE SUM DETERMINED UNDER THIS                                                             
07       PARAGRAPH MAY NOT EXCEED 50 PERCENT].                                                                             
08    * Sec. 2. This Act takes effect January 1, 2013.