2016-05-17                     Senate Journal                      Page 2825
HB 247                                                                                                                        
2d CS FOR HOUSE BILL NO. 247(RLS) am "An Act amending the                                                                       
powers of the board of trustees of the Alaska Retirement Management                                                             
Board to authorize purchase and sale of transferable tax credit                                                                 
certificates issued in conjunction with the production tax on oil and                                                           
gas; relating to interest applicable to delinquent tax; relating to the oil                                                     
and gas production tax, tax payments, and credits; relating to                                                                  
exploration incentive credits; relating to refunds for the gas storage                                                          
facility tax credit, the liquefied natural gas storage facility tax credit,                                                     
and the qualified in-state oil refinery infrastructure expenditures tax                                                         
credit; relating to the confidential information status and public record                                                       
status of information in the possession of the Department of Revenue;                                                           
relating to oil and gas lease expenditures and production tax credits for                                                       
municipal entities; requiring a bond or cash deposit with a business                                                            
license application for an oil or gas business; establishing a legislative                                                      
working group to study the fiscal regime and tax structure and rates for                                                        
oil and gas produced south of 68 degrees North latitude; and providing                                                          
for an effective date" was read the second time.                                                                                
                                                                                                                                
Senator MacKinnon, Cochair, moved and asked unanimous consent                                                                   
for the adoption of the Finance Senate Committee Substitute offered                                                             
on page 2822. Senator Gardner objected, then withdrew her objection.                                                            
There being no further objection, SENATE CS FOR 2d CS FOR                                                                       
HOUSE BILL NO. 247(FIN) "An Act relating to the exploration                                                                     
incentive credits; relating to the powers and duties of the Alaska Oil                                                          
and Gas Conservation Commission; relating to interest applicable to                                                             
delinquent tax; relating to the oil and gas production tax, tax                                                                 

2016-05-17                     Senate Journal                      Page 2826
payments, and credits; relating to tax credit certificates; relating to                                                         
refunds for the gas storage facility tax credit, the liquefied natural gas                                                      
storage facility tax credit, and the qualified in-state oil refinery                                                            
infrastructure expenditures tax credit; relating to oil and gas lease                                                           
expenditures and production tax credits for municipal entities;                                                                 
requiring a bond or cash deposit with a business license application for                                                        
an oil or gas business; and providing for an effective date" was                                                                
adopted.                                                                                                                        
                                                                                                                                
President Meyer stated SENATE CS FOR 2d CS FOR HOUSE BILL                                                                       
NO. 247(FIN) will advance to third reading on the May 18 calendar.