1993-03-05                     House Journal                      Page 0549
HB 198                                                                       
"An Act relating to the Alaska regional economic assistance                   
program; and providing for an effective date."                                 
                                                                               
was read the first time and referred to the Community & Regional               
Affairs and Finance Committees.                                                
                                                                               
HB 199                                                                       
HOUSE BILL NO. 199 by the House Rules Committee by request of                  
the Governor, entitled:                                                        
                                                                               
"An Act providing for oil and gas exploration licenses, and oil and           
gas leases, in certain areas of the state; and providing for an                
effective date."                                                               
                                                                               
was read the first time and referred to the House Special Committee            
on Oil and Gas, Resources and Finance Committees.                              
                                                                               
The following fiscal note applies to HB 199:                                   
                                                                               
Zero fiscal note, Dept. of Revenue, 3/5/93                                     
                                                                               
The Governor's transmittal letter, dated March 5, 1993, appears below:         
                                                                               
"Dear Speaker Barnes:                                                          
                                                                               
Under the authority of art. III, sec. 18, of the Alaska Constitution, I am     
transmitting a bill authorizing oil and gas exploration licenses for tracts    
of state land up to 500,000 acres in size and providing for subsequent         
leasing of some or all of the acreage subject to the license.                  
                                                                               
The bill is designed to encourage the exploration and development of           
areas within the state with undetermined oil and gas potential.  In            
contrast to the provisions of the state's existing competitive oil and gas     
leasing program, the bill would allow the state to issue licenses              
covering relatively large tracts to licensees based upon their                 
commitment to perform certain exploration programs, the monetary               
value of which has been predetermined.  The bill is not intended to            
replace the states competitive leasing program; rather, it is intended to      
provide an effective alternative to encourage exploration in those areas       
that traditionally have not attracted the interest of explorationists under    
the states current leasing regime.