SB 44: "An Act relating to information concerning oil and gas taxes, including information about expenditures that must be provided to claim an oil and gas production tax credit for those expenditures; relating to the disclosure of that information; and providing for an effective date."
00 SENATE BILL NO. 44 01 "An Act relating to information concerning oil and gas taxes, including information 02 about expenditures that must be provided to claim an oil and gas production tax credit 03 for those expenditures; relating to the disclosure of that information; and providing for 04 an effective date." 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 06 * Section 1. AS 43.05.230(a) is amended to read: 07 (a) It is unlawful for a current or former officer, employee, or agent of the 08 state to divulge the amount of income or the particulars set out or disclosed in a report 09 or return made under this title, except 10 (1) in connection with official investigations or proceedings of the 11 department, whether judicial or administrative, involving taxes due under this title; 12 (2) in connection with official investigations or proceedings of the 13 child support enforcement agency, whether judicial or administrative, involving child 14 support obligations imposed or imposable under AS 25 or AS 47;
01 (3) as provided in AS 38.05.036 pertaining to audit functions of the 02 Department of Natural Resources; 03 (4) as provided in AS 43.05.405 - 43.05.499; and 04 (5) as otherwise provided in this section, AS 43.55.030(g), or 05 43.55.890 [OR AS 43.55.890]. 06 * Sec. 2. AS 43.05.230(l) is amended to read: 07 (l) The [FOR TAX CREDIT CERTIFICATES PURCHASED BY THE 08 DEPARTMENT IN THE PRECEDING CALENDAR YEAR UNDER AS 43.55.028, 09 THE] department shall make the following information public by April 30 of each 10 year: 11 (1) for tax credit certificates issued or purchased by the 12 department in the preceding calendar year under AS 43.55.028: 13 (A) the name of each person to which a transferable tax 14 certificate was issued or from which the department purchased a transferable 15 tax credit certificate; and 16 (B) [(2)] the aggregate amount of the tax credit certificates 17 purchased from the person in the preceding calendar year; 18 (C) the aggregate amount of the tax credit certificates 19 issued to the person in the preceding calendar year; and 20 (2) unless otherwise prohibited by law, information submitted 21 during the previous calendar year under AS 43.55.030(a)(10) and (e)(3). 22 * Sec. 3. AS 43.55.030(a) is amended to read: 23 (a) A producer that produces oil or gas from a lease or property in the state 24 during a calendar year, whether or not any tax payment is due under AS 43.55.020(a) 25 for that oil or gas, shall file with the department on March 31 of the following year a 26 statement, under oath, in a form prescribed by the department, giving, with other 27 information required under a regulation adopted by the department, the following: 28 (1) a description of each lease or property from which oil or gas was 29 produced, by name, legal description, lease number, or accounting codes assigned by 30 the department; 31 (2) the names of the producer and, if different, the person paying the
01 tax, if any; 02 (3) the gross amount of oil and the gross amount of gas produced from 03 each lease or property, separately identifying the gross amount of gas produced from 04 each oil and gas lease to which an effective election under AS 43.55.014(a) applies, 05 the amount of gas delivered to the state under AS 43.55.014(b), and the percentage of 06 the gross amount of oil and gas owned by the producer; 07 (4) the gross value at the point of production of the oil and of the gas 08 produced from each lease or property owned by the producer and the costs of 09 transportation of the oil and gas; 10 (5) the name of the first purchaser and the price received for the oil and 11 for the gas, unless relieved from this requirement in whole or in part by the 12 department; 13 (6) the producer's qualified capital expenditures, as defined in 14 AS 43.55.023, other lease expenditures under AS 43.55.165, and adjustments or other 15 payments or credits under AS 43.55.170; 16 (7) the production tax values of the oil and gas under AS 43.55.160(a) 17 or of the oil under AS 43.55.160(h), as applicable; 18 (8) any claims for tax credits to be applied; [AND] 19 (9) calculations showing the amounts, if any, that were or are due 20 under AS 43.55.020(a) and interest on any underpayment or overpayment; and 21 (10) for each expenditure that is the basis for a credit claimed 22 under AS 43.55.023 or 43.55.025, a description of the expenditure, a detailed 23 description of the purpose of the expenditure, and a description of the lease or 24 property for which the expenditure was incurred; in addition, for a credit 25 claimed under AS 43.55.023(b), a producer shall provide the proportion of a lease 26 expenditure attributable to a credit being claimed under AS 43.55.023(b). 27 * Sec. 4. AS 43.55.030(e) is amended to read: 28 (e) An explorer or producer that incurs a lease expenditure under 29 AS 43.55.165 or receives a payment or credit under AS 43.55.170 during a calendar 30 year but does not produce oil or gas from a lease or property in the state during the 31 calendar year shall file with the department, on March 31 of the following year, a
01 statement, under oath, in a form prescribed by the department, giving, with other 02 information required under a regulation adopted by the department, the following: 03 (1) the explorer's or producer's qualified capital expenditures, as 04 defined in AS 43.55.023, other lease expenditures under AS 43.55.165, and 05 adjustments or other payments or credits under AS 43.55.170; [AND] 06 (2) if the explorer or producer receives a payment or credit under 07 AS 43.55.170, calculations showing whether the explorer or producer is liable for a 08 tax under AS 43.55.160(d) or 43.55.170(b) and, if so, the amount; and 09 (3) for each expenditure that is the basis for a credit claimed under 10 this chapter, a description of the expenditure, a detailed description of the 11 purpose of the expenditure, and a description of the lease or property for which 12 the expenditure was incurred; in addition, for a credit claimed under 13 AS 43.55.023(b), an explorer or producer shall provide the proportion of a lease 14 expenditure attributable to a credit being claimed under AS 43.55.023(b). 15 * Sec. 5. AS 43.55.030 is amended by adding a new subsection to read: 16 (g) Notwithstanding AS 43.05.230(a), the department shall annually report the 17 information submitted during the previous calendar year under (a)(10) and (e)(3) of 18 this section to the legislature within 10 days after the convening of each regular 19 legislative session. The department shall deliver the information to the senate secretary 20 and the chief clerk of the house of representatives and notify the legislature that the 21 information is available. 22 * Sec. 6. This Act takes effect July 1, 2017.