2010-04-10                     Senate Journal                      Page 2228
SB 309                                                                                                                        
The Resources Committee considered 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" and                                                          
recommended it be replaced with                                                                                                 
                                                                                                                                
          CS FOR SENATE BILL NO. 309(RES) "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 a credit against the tax on the                                                             
          production of oil and gas for a qualified capital                                                                     
          expenditure and for certain losses and expenditures;                                                                  
          providing a credit against the tax on the production of                                                               
          oil and gas for drilling certain exploration wells in the                                                             

2010-04-10                     Senate Journal                      Page 2229
          Cook Inlet sedimentary basin; providing for an                                                                        
          effective date by amending the effective date for sec.                                                                
          2, ch. 61, SLA 2003; and providing for an effective                                                                   
          date."                                                                                                                
                                                                                                                                
Signing do pass: Senator McGuire, Cochair; Senator Wagoner.                                                                     
Signing amend: Senator Wielechowski, Cochair; Senator French.                                                                   
Signing no recommendation: Senator Stevens.                                                                                     
                                                                                                                                
The following fiscal information was published today:                                                                           
 Fiscal Note No. 1, indeterminate, Department of Revenue                                                                        
                                                                                                                                
The bill was referred to the Finance Committee.