2010-04-13                     House Journal                      Page 2238
HCR 29                                                                                                                        
HOUSE CONCURRENT RESOLUTION NO. 29 by the House                                                                                 
Resources Committee:                                                                                                            
                                                                                                                                
    Suspending Rules 24(c), 35, 41(b), and 42(e), Uniform Rules of                                                              
    the Alaska State Legislature, concerning Senate Bill No. 305,                                                               
    providing that the tax rate applicable to the production of oil as the                                                      

2010-04-13                     House Journal                      Page 2239
    average production tax value of oil, gas produced in the Cook                                                               
    Inlet sedimentary basin, and gas produced outside of the Cook                                                               
    Inlet sedimentary basin and used in the state increases above $30                                                           
    shall be 0.4 percent multiplied by the number that represents the                                                           
    difference between that average monthly production tax value and                                                            
    $30, or the sum of 25 percent and the product of 0.1 percent                                                                
    multiplied by the number that represents the difference between                                                             
    that average monthly production tax value and $92.50, except that                                                           
    the total rate determined in the calculation may not exceed 50                                                              
    percent; providing for an increase in the rate of tax on the                                                                
    production of gas as the average production tax value on a BTU                                                              
    equivalent barrel basis of gas produced outside of the Cook Inlet                                                           
    sedimentary basin and not used in the state increases above $30;                                                            
    relating to payments of the oil and gas production tax; relating to                                                         
    availability of a portion of the money received from the tax on oil                                                         
    and gas production for appropriation to the community revenue                                                               
    sharing fund; and relating to the allocation of lease expenditures                                                          
    and adjustments to lease expenditures.                                                                                      
                                                                                                                                
                                                                                                                                
was read the first time and referred to the Rules Committee for                                                                 
placement on the calendar.