2007-05-10                     Senate Journal                      Page 1188
SB 174                                                                                                                        
SENATE BILL NO. 174 BY SENATORS WAGONER, Dyson,                                                                                 
Therriault, entitled:                                                                                                           
                                                                                                                                
          "An Act relating to the oil and gas properties                                                                        
          production tax; providing for a reduction in the                                                                      
          amount of taxable production; providing for an                                                                        
          increase in the tax rate when the average Alaska                                                                      
          North Slope crude oil West Coast price per barrel                                                                     
          exceeds $40; providing for tax credits based on                                                                       
          expenditures for oil and gas exploration, gas only                                                                    
          exploration, and development wells; and providing                                                                     
          for an effective date."                                                                                               
                                                                                                                                
was read the first time and referred to the Resources, Judiciary and                                                            
Finance Committees.