04/07/2010 09:00 AM Senate FINANCE

SENATE BILL NO. 208                                                                                                           
                                                                                                                                
     "An Act  requiring the Department of  Natural Resources                                                                    
     to   evaluate   current    incentives   and   recommend                                                                    
     additional   incentives   that   would   increase   gas                                                                    
     exploration,  development, and  production in  the Cook                                                                    
     Inlet sedimentary  basin; and requiring  the Department                                                                    
     of  Natural Resources  to evaluate  the means  by which                                                                    
     the  department may  explore  for,  purchase, and  sell                                                                    
     natural gas from newly proved  gas reserves in the Cook                                                                    
     Inlet sedimentary basin."                                                                                                  
                                                                                                                                
9:13:02 AM                                                                                                                    
                                                                                                                                
Senator  Thomas commented  that  the reference  to gas  from                                                                    
Cook Inlet should  incorporate a large portion  of the state                                                                    
as the Railbelt region through  to Fairbanks also enjoys the                                                                    
benefits of less expensive gas.                                                                                                 
                                                                                                                                
Co-Chair Hoffman MOVED to report  CS SB 208 out of Committee                                                                    
with individual recommendations  and the accompanying fiscal                                                                    
note. There being NO OBJECTION, it was so ordered.                                                                              
                                                                                                                                
CS SB  208 was REPORTED  out of  Committee with a  "do pass"                                                                    
recommendation  and  with a  new  zero  note by  the  Senate                                                                    
Finance Committee and  a new zero note by  the Department of                                                                    
Revenue.