04/14/2014 01:30 PM House FINANCE

HOUSE BILL NO. 287                                                                                                            
                                                                                                                                
     "An  Act approving  and ratifying  the sale  of royalty                                                                    
     oil by  the State of  Alaska to Tesoro  Corporation and                                                                    
     Tesoro   Refining  and   Marketing  Company   LLC;  and                                                                    
     providing for an effective date."                                                                                          
                                                                                                                                
4:52:56 PM                                                                                                                    
                                                                                                                                
Co-Chair Stoltze  relayed that  HB 287  had reported  out of                                                                    
committee  during the  morning  meeting, but  had been  held                                                                    
until the fiscal note had been received.                                                                                        
                                                                                                                                
Representative Costello spoke to  the fiscal notes including                                                                    
one  new indeterminate  fiscal note  from the  Department of                                                                    
Natural  Resources and  one  new  indeterminate fiscal  note                                                                    
from the Department of Revenue.                                                                                                 
                                                                                                                                
Co-Chair Stoltze noted a significant  cost potential for the                                                                    
tax  credits. He  believed the  fiscal notes  were accurate,                                                                    
but not  reflective of  the future cost.  He noted  that the                                                                    
fiscal notes would accompany the bill.                                                                                          
                                                                                                                                
[Note: CSHB  287(FIN) was reported  out of  committee during                                                                    
the  4/14/2014  8:30 a.m.  meeting.  The  bill was  held  to                                                                    
discuss one  new forthcoming indeterminate fiscal  note from                                                                    
the   Department   of   Natural  Resources   and   one   new                                                                    
indeterminate fiscal  note from  the Department  of Revenue.                                                                    
For   additional  information   see   4/14/2014  8:30   a.m.                                                                    
minutes.]