Legislature(2023 - 2024)BARNES 124
03/07/2023 10:15 AM House ENERGY
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| Audio | Topic |
|---|---|
| Start | |
| HB74 | |
| Presentation: Tidal and River Energy | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| += | HB 74 | TELECONFERENCED | |
| + | TELECONFERENCED | ||
| + | TELECONFERENCED |
HB 74-GEOTHERMAL RESOURCES
10:18:11 AM
CHAIR RAUSCHER announced that the first order of business would
be HOUSE BILL NO. 74, "An Act relating to geothermal resources;
relating to the definition of 'geothermal resources'; and
providing for an effective date."
10:18:26 AM
REPRESENTATIVE CARRICK asked how HB 74 would affect the current
tax structure, penalties, and permit structure.
10:20:55 AM
AARON O'QUINN, Leasing Manager, Division of Oil and Gas,
Department of Natural Resources (DNR), answered that the
proposed legislation would change "permits" to "licenses", and
this would match the regulations for other types of resources.
He continued that the time period would be changed from two to
five years, and the requirement for renewal would be based on
the investment. Once the requirements are met, a lease will be
granted.
10:23:39 AM
REPRESENTATIVE CARRICK requested an explanation of the name
change.
MR. O'QUINN answered that currently a permit could be used to
obtain a lease, but DNR plans to change this permit to a
license. In response to a follow-up question, he stated that
geothermal production facilities would face many of the same
taxes as other industries, such as property taxes and corporate
income taxes. He noted that since last year, Mount Spurr has
generated $93,000 in rent and Augustine Island has generated
approximately $9,300 in rent.
10:28:47 AM
REPRESENTATIVE MCKAY moved to report HB 74 out of committee with
individual recommendations and the accompanying zero fiscal
notes.
10:29:32 AM
The committee took an at-ease from 10:29 a.m. to 10:30 a.m.
10:30:19 AM
REPRESENTATIVE MCKAY withdrew his motion to move HB 74. There
being no objection, the motion to move HB 74 was withdrawn.
10:30:41 AM
REPRESENTATIVE MCKAY moved to report HB 74 out of committee with
individual recommendations and the accompanying fiscal notes.
10:31:02 AM
REPRESENTATIVE SCHRAGE objected and asked for the number of
fiscal notes accompanying the bill.
CHAIR RAUSCHER answered that there were two.
10:31:35 AM
REPRESENTATIVE SCHRAGE removed his objection. There being no
further objection, HB 74 was reported out of the House Special
Committee on Energy.
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