Legislature(2005 - 2006)
2006-04-10 House Journal
Full Journal pdf2006-04-10 House Journal Page 3063 HB 386 The Resources Committee has considered: HOUSE BILL NO. 386 "An Act making uniform throughout the state the deadline for certain exploration expenditures used as credits against the production tax on oil and gas produced from a lease or property in the state by extending to July 1, 2010, the deadline for those 2006-04-10 House Journal Page 3064 expenditures on leases or properties located north of 68 degrees, 15 minutes, North latitude." and recommends it be replaced with: CS FOR HOUSE BILL NO. 386(O&G) "An Act making uniform throughout the state the deadline for certain exploration expenditures used as credits against the production tax on oil and gas produced from a lease or property in the state by extending to July 1, 2010, the deadline for those expenditures on leases or properties located north of 68 degrees, 15 minutes, North latitude, and expanding the purposes for which use of that credit is allowed; and delaying to June 30, 2010, the last date by which hydrocarbon exploration geophysical work must be performed or drilling of a stratigraphic test well or exploratory well must be completed in order for a person to qualify for an exploration incentive credit under the oil and gas exploration incentive credit that is not authorized by the Alaska Land Act." The report was signed by Representatives Samuels and Ramras, Co- chairs, with the following individual recommendations: Do pass (4): Seaton, Crawford, Samuels, Ramras No recommendation (2): Gatto, LeDoux The following fiscal note(s) apply to CSHB 386(O&G): 1. Zero, Dept. of Natural Resources 2. Indeterminate, Dept. of Revenue HB 386 was referred to the Finance Committee.