2006-04-22                     Senate Journal                      Page 2864
SB 305                                                                                            
SENATE BILL NO. 305 "An Act repealing the oil production tax and                                    
gas production tax and providing for a production tax on the net value                              
of oil and gas; relating to the relationship of the production tax to other                         
taxes; relating to the dates tax payments and surcharges are due under                              

2006-04-22                     Senate Journal                      Page 2865
AS 43.55; relating to interest on overpayments under AS 43.55;                                      
relating to the treatment of oil and gas production tax in a producer's                             
settlement with the royalty owner; relating to flared gas, and to oil and                           
gas used in the operation of a lease or property, under AS 43.55;                                   
relating to the prevailing value of oil or gas under AS 43.55; providing                            
for tax credits against the tax due under AS 43.55 for certain                                      
expenditures, losses, and surcharges; relating to statements or other                               
information required to be filed with or furnished to the Department of                             
Revenue, and relating to the penalty for failure to file certain reports,                           
under AS 43.55; relating to the powers of the Department of Revenue,                                
and to the disclosure of certain information required to be furnished to                            
the Department of Revenue, under AS 43.55; relating to criminal                                     
penalties for violating conditions governing access to and use of                                   
confidential information relating to the oil and gas production tax;                                
relating to the deposit of money collected by the Department of                                     
Revenue under AS 43.55; relating to the calculation of the gross value                              
at the point of production of oil or gas; relating to the determination of                          
the net value of taxable oil and gas for purposes of a production tax on                            
the net value of oil and gas; relating to the definitions of 'gas,' 'oil,' and                      
certain other terms for purposes of AS 43.55; making conforming                                     
amendments; and providing for an effective date" was not taken up on                                
the April 22 calendar.                                                                              
                                                                                                    
The bill will be on the April 24 calendar.