Legislature(2009 - 2010)
2010-04-16 Senate Journal
Full Journal pdf2010-04-16 Senate Journal Page 2395 SB 309 SENATE BILL NO. 309 "An Act amending and extending the exploration and development incentive tax credit under the Alaska Net Income Tax Act for operators and working interest owners directly engaged in the exploration for and development of gas from a lease or property in the state; providing for an effective date by amending the effective date for sec. 2, ch. 61, SLA 2003; and providing for an effective date" was read the second time. Senator Hoffman, Cochair, moved and asked unanimous consent for the adoption of the Finance Committee Substitute offered on page 2389. Without objection, CS FOR SENATE BILL NO. 309(FIN) "An Act amending and extending the exploration and development incentive tax credit under the Alaska Net Income Tax Act for operators and working interest owners directly engaged in the exploration for and development of gas from a lease or property in the state; relating to interest on certain underpayments or overpayments of the oil and gas production tax; providing a credit against the tax on the production of oil and gas for drilling certain exploration wells in the Cook Inlet sedimentary basin; relating to the use of the oil and gas tax credit fund to purchase certain tax credit certificates; providing for an effective date by amending the effective date for sec. 2, ch. 61, SLA 2003; and providing for an effective date" was adopted. Senator Ellis moved and asked unanimous consent that the bill be considered engrossed, advanced to third reading and placed on final passage. Without objection, it was so ordered. CS FOR SENATE BILL NO. 309(FIN) was read the third time. Senator Meyer moved and asked unanimous consent to abstain from voting due to a conflict of interest. Objections were heard and Senator Meyer was required to vote. 2010-04-16 Senate Journal Page 2396 The question being: "Shall CS FOR SENATE BILL NO. 309(FIN) "An Act amending and extending the exploration and development incentive tax credit under the Alaska Net Income Tax Act for operators and working interest owners directly engaged in the exploration for and development of gas from a lease or property in the state; relating to interest on certain underpayments or overpayments of the oil and gas production tax; providing a credit against the tax on the production of oil and gas for drilling certain exploration wells in the Cook Inlet sedimentary basin; relating to the use of the oil and gas tax credit fund to purchase certain tax credit certificates; providing for an effective date by amending the effective date for sec. 2, ch. 61, SLA 2003; and providing for an effective date" pass the Senate?" The roll was taken with the following result: CSSB 309(FIN) Third Reading - Final Passage Effective Dates YEAS: 19 NAYS: 0 EXCUSED: 1 ABSENT: 0 Yeas: Bunde, Coghill, Dyson, Egan, Ellis, French, Hoffman, Huggins, Kookesh, McGuire, Menard, Meyer, Olson, Paskvan, Stedman, Stevens, Thomas, Wagoner, Wielechowski Excused: Davis and so, CS FOR SENATE BILL NO. 309(FIN) passed the Senate. Senator Ellis moved and asked unanimous consent that the vote on the passage of the bill be considered the vote on the effective date clauses. Without objection, it was so ordered and the bill was referred to the Secretary for engrossment.