Legislature(2015 - 2016)
2016-05-27 House JournalFull Journal pdf
2016-05-27 House Journal Page 2988 HB 4005 HOUSE BILL NO. 4005 by the House Rules Committee by request of the Governor, entitled: "An Act relating to the mining license tax; relating to the exploration incentive credit; relating to mining license application, renewal, and fees; and providing for an effective date." was read the first time and referred to the Finance Committee. The following fiscal note(s) apply: 1. Fiscal, Dept. of Revenue 2016-05-27 House Journal Page 2989 The Governor's transmittal letter dated May 26, 2016, follows: "Dear Speaker Chenault: Under the authority of Article III, Section 18, of the Alaska Constitution, I am transmitting a bill relating to exemptions from the mining license tax; the mining license tax rate; and mining license application, renewal, and fees and removing the application of the exploration incentive credit to mining production royalty payments. The bill would amend the exemption from paying the mining license tax that currently applies to operations for three and one-half years after production begins. The exemption would remain, but for two years. The bill also would increase the mining license tax rate from seven percent to nine percent for a portion of net income in excess of $100,000. The new tax rate would apply to the first taxable year (which may be a fiscal year or a calendar year) beginning after the effective date of the bill. Last the bill would remove the application of the exploration incentive credit to mining production royalty payable under AS 38.05.135 - 38.05.160 and AS 38.05.212 for production from a mining operation. I urge your prompt and favorable action on this measure. Sincerely, /s/ Bill Walker Governor"