2013-03-18                     Senate Journal                      Page 0600
SB 21                                                                                                                         
The Finance Committee considered SENATE BILL NO. 21 "An Act                                                                     
relating to appropriations from taxes paid under the Alaska Net                                                                 
Income Tax Act; relating to the oil and gas production tax rate;                                                                
relating to gas used in the state; relating to monthly installment                                                              
payments of the oil and gas production tax; relating to oil and gas                                                             
production tax credits for certain losses and expenditures; relating to                                                         
oil and gas production tax credit certificates; relating to                                                                     
nontransferable tax credits based on production; relating to the oil and                                                        
gas tax credit fund; relating to annual statements by producers and                                                             
explorers; relating to the determination of annual oil and gas                                                                  
production tax values including adjustments based on a percentage of                                                            

2013-03-18                     Senate Journal                      Page 0601
gross value at the point of production from certain leases or properties;                                                       
making conforming amendments; and providing for an effective date"                                                              
and recommended it be replaced with                                                                                             
                                                                                                                                
     CS FOR SENATE BILL NO. 21(FIN) "An Act relating to                                                                         
     the interest rate applicable to certain amounts due for fees,                                                              
     taxes, and payments made and property delivered to the                                                                     
     Department of Revenue; providing a tax credit against the                                                                  
     corporation income tax for qualified oil and gas service                                                                   
     industry expenditures; relating to the oil and gas production                                                              
     tax rate; relating to gas used in the state; relating to                                                                   
     monthly installment payments of the oil and gas production                                                                 
     tax; relating to oil and gas production tax credits for certain                                                            
     losses and expenditures; relating to oil and gas production                                                                
     tax credit certificates; relating to nontransferable tax credits                                                           
     based on production; relating to the oil and gas tax credit                                                                
     fund; relating to annual statements by producers and                                                                       
     explorers; establishing the Oil and Gas Competitiveness                                                                    
     Review Board; making conforming amendments; and                                                                            
     providing for an effective date."                                                                                          
                                                                                                                                
Signing do pass: Senators Kelly, Meyer, Cochairs. Signing do not                                                                
pass: Senator Hoffman. Signing no recommendation: Senator                                                                       
Fairclough. Signing amend: Senators Dunleavy, Bishop, Olson.                                                                    
                                                                                                                                
The following fiscal information was published today:                                                                           
     Fiscal Note No. 6, Department of Revenue                                                                                   
     Fiscal Note No. 7, Department of Revenue                                                                                   
     Fiscal Note No. 8, indeterminate, Department of Natural                                                                    
      Resources                                                                                                                 
                                                                                                                                
The bill was referred to the Rules Committee.