2006-05-06                     House Journal                      Page 3738
SB 305                                                                                            
The following was read the second time:                                                             
                                                                                                    
     CS FOR SENATE BILL NO. 305(FIN) am                                                             
     "An Act repealing the oil production tax and the gas production                                
     tax and providing for a production tax on oil and gas; relating to                             
     the calculation of the gross value at the point of production of oil                           
     and gas and to the determination of the value of oil and gas for                               
     purposes of the production tax on oil and gas; providing for tax                               
     credits against the production tax on oil and gas; relating to the                             
     relationship of the production tax on oil and gas to other taxes, to                           
     the dates those tax payments and surcharges are due, to interest on                            
     overpayments of the tax, and to the treatment of the tax in a                                  
     producer's settlement with the royalty owners; relating to flared                              
     gas, and to oil and gas used in the operation of a lease or property                           
     under the production tax; relating to the prevailing value of oil and                          
     gas under the production tax; relating to surcharges on oil; relating                          
     to statements or other information required to be filed with or                                
     furnished to the Department of Revenue, to the penalty for failure                             
     to file certain reports for the tax, to the powers of the Department                           
     of Revenue, and to the disclosure of certain information required                              
     to be furnished to the Department of Revenue as applicable to the                              
     administration of the tax; relating to criminal penalties for                                  
     violating conditions governing access to and use of confidential                               
     information relating to the tax, and to the deposit of tax money                               
     collected by the Department of Revenue; amending the definitions                               
     of 'gas,' 'oil,' and certain other terms for purposes of the production                        
     tax, and as the definition of the term 'gas' applies in the Alaska                             
     Stranded Gas Development Act, and adding further definitions;                                  
     making conforming amendments; and providing for an effective                                   
     date."                                                                                         
                                                                                                    
with the:                                                     Journal Page                          
                                                                                                    
 FIN RPT HCS(FIN) 3DP 1DNP 3NR 4AM                                     3721                         
 FN4: (REV)                                                            3722                         
                                                                                                    

2006-05-06                     House Journal                      Page 3739
Representative Coghill moved and asked unanimous consent that the                                   
following committee substitute be adopted in lieu of the original bill:                             
                                                                                                    
     HOUSE CS FOR CS FOR SENATE BILL NO. 305(FIN)                                                   
     (same title)                                                                                   
                                                                                                    
There being no objection, it was so ordered.                                                        
                                                                                                    
Representative Coghill moved and asked unanimous consent that HCS                                   
CSSB 305(FIN) be considered engrossed, advanced to third reading,                                   
and placed on final passage.                                                                        
                                                                                                    
There was objection.                                                                                
                                                                                                    
HCS CSSB 305(FIN) will advance to third reading on tomorrow's                                       
calendar.