2006-05-07                     House Journal                      Page 3789
SB 305                                                                                            
The Speaker stated that, without objection, the following, which was                                
advanced to third reading from the May 6, 2006, calendar (page 3739),                               
would be moved to the bottom of the calendar:                                                       
                                                                                                    
     HOUSE CS FOR CS FOR SENATE BILL NO. 305(FIN)                                                   
     "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                             

2006-05-07                     House Journal                      Page 3790
     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."