Legislature(2009 - 2010)BARNES 124
04/12/2010 01:00 PM House RESOURCES
| Audio | Topic |
|---|---|
| Start | |
| SB301 | |
| SB144 | |
| SB305 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| + | SB 144 | TELECONFERENCED | |
| + | TELECONFERENCED | ||
| += | SB 301 | TELECONFERENCED | |
| += | SB 305 | TELECONFERENCED | |
ALASKA STATE LEGISLATURE
HOUSE RESOURCES STANDING COMMITTEE
April 12, 2010
1:03 p.m.
MEMBERS PRESENT
Representative Craig Johnson, Co-Chair
Representative Mark Neuman, Co-Chair
Representative Bryce Edgmon
Representative Kurt Olson
Representative Paul Seaton
Representative Peggy Wilson
Representative Scott Kawasaki
Representative Chris Tuck
MEMBERS ABSENT
All members present
COMMITTEE CALENDAR
SENATE BILL NO. 301
"An Act relating to the power project fund; authorizing the
Alaska Energy Authority to charge and collect fees relating to
the power project fund; authorizing the Alaska Energy Authority
to sell and authorizing the Alaska Industrial Development and
Export Authority to purchase loans of the power project fund;
providing legislative approval for the sale and purchase of
loans of the power project fund under the memorandum of
understanding dated February 17, 2010; and providing for an
effective date."
- MOVED OUT OF COMMITTEE
COMMITTEE SUBSTITUTE FOR SENATE BILL NO. 144(FIN)
"An Act relating to hunting permits and tag fees for musk oxen."
- MOVED OUT OF COMMITTEE
COMMITTEE SUBSTITUTE FOR SENATE BILL NO. 305(FIN)(TITLE AM)
"An Act providing that the tax rate applicable to the production
of oil as the average on oil and gas production for
appropriation to the community revenue sharing fund; production
tax value of oil, gas produced in the Cook Inlet sedimentary
basin, and gas relating to the allocation of lease expenditures
and adjustments to lease expenditures; produced outside of the
Cook Inlet sedimentary basin and used in the state increases and
providing for an effective date."
- HEARD & HELD
PREVIOUS COMMITTEE ACTION
BILL: SB 301
SHORT TITLE: POWER PROJECT FUND
SPONSOR(s): RULES BY REQUEST OF THE GOVERNOR
02/26/10 (S) READ THE FIRST TIME - REFERRALS
02/26/10 (S) RES, FIN
03/15/10 (S) RES AT 3:30 PM BUTROVICH 205
03/15/10 (S) Heard & Held
03/15/10 (S) MINUTE(RES)
03/17/10 (S) RES AT 3:30 PM BUTROVICH 205
03/17/10 (S) Moved SB 301 Out of Committee
03/17/10 (S) MINUTE(RES)
03/22/10 (S) RES RPT 2DP 5NR
03/22/10 (S) DP: MCGUIRE, WIELECHOWSKI
03/22/10 (S) NR: HUGGINS, STEVENS, STEDMAN, WAGONER,
FRENCH
04/05/10 (S) FIN AT 10:00 AM SENATE FINANCE 532
04/05/10 (S) Heard & Held
04/05/10 (S) MINUTE(FIN)
04/07/10 (S) FIN RPT 3DP 3NR
04/07/10 (S) DP: HOFFMAN, HUGGINS, THOMAS
04/07/10 (S) NR: STEDMAN, OLSON, ELLIS
04/07/10 (S) FIN AT 9:00 AM SENATE FINANCE 532
04/07/10 (S) Moved SB 301 Out of Committee
04/07/10 (S) MINUTE(FIN)
04/08/10 (S) TRANSMITTED TO (H)
04/08/10 (S) VERSION: SB 301
04/09/10 (H) READ THE FIRST TIME - REFERRALS
04/09/10 (H) RES, FIN
04/10/10 (H) RES AT 10:00 AM BARNES 124
04/10/10 (H) Scheduled But Not Heard
04/11/10 (H) RES AT 12:00 AM BARNES 124
04/11/10 (H) Scheduled But Not Heard
04/12/10 (H) FIN AT 8:00 AM HOUSE FINANCE 519
04/12/10 (H) MINUTE(FIN)
04/12/10 (H) RES AT 1:00 PM BARNES 124
BILL: SB 144
SHORT TITLE: MUSK OXEN PERMITS & FEES
SPONSOR(s): OLSON
03/09/09 (S) READ THE FIRST TIME - REFERRALS
03/09/09 (S) RES, FIN
03/08/10 (S) RES AT 3:30 PM BUTROVICH 205
03/08/10 (S) Moved SB 144 Out of Committee
03/08/10 (S) MINUTE(RES)
03/10/10 (S) RES RPT 4DP 2NR
03/10/10 (S) DP: MCGUIRE, WIELECHOWSKI, HUGGINS,
STEVENS
03/10/10 (S) NR: STEDMAN, FRENCH
03/15/10 (S) FIN AT 9:00 AM SENATE FINANCE 532
03/15/10 (S) Heard & Held
03/15/10 (S) MINUTE(FIN)
03/22/10 (S) FIN RPT CS 4DP 1NR SAME TITLE
03/22/10 (S) DP: HOFFMAN, STEDMAN, EGAN, OLSON
03/22/10 (S) NR: HUGGINS
03/22/10 (S) FIN AT 9:00 AM SENATE FINANCE 532
03/22/10 (S) Moved CSSB 144(FIN) Out of Committee
03/22/10 (S) MINUTE(FIN)
03/26/10 (S) TRANSMITTED TO (H)
03/26/10 (S) VERSION: CSSB 144(FIN)
03/29/10 (H) READ THE FIRST TIME - REFERRALS
03/29/10 (H) RES, FIN
04/09/10 (H) RES AT 1:00 PM BARNES 124
04/09/10 (H) <Bill Hearing Rescheduled to 4/12/10>
04/12/10 (H) RES AT 1:00 PM BARNES 124
BILL: SB 305
SHORT TITLE: SEPARATE OIL & GAS PROD. TAX/ DEDUCTIONS
SPONSOR(s): FINANCE
03/08/10 (S) READ THE FIRST TIME - REFERRALS
03/08/10 (S) FIN
03/09/10 (S) FIN AT 9:00 AM SENATE FINANCE 532
03/09/10 (S) Heard & Held
03/09/10 (S) MINUTE(FIN)
03/10/10 (S) FIN AT 9:00 AM SENATE FINANCE 532
03/10/10 (S) <Bill Hearing Canceled>
03/11/10 (S) FIN AT 9:00 AM SENATE FINANCE 532
03/11/10 (S) -- MEETING CANCELED --
03/12/10 (S) FIN AT 9:00 AM SENATE FINANCE 532
03/12/10 (S) Heard & Held
03/12/10 (S) MINUTE(FIN)
03/18/10 (S) FIN AT 3:00 PM SENATE FINANCE 532
03/18/10 (S) Heard & Held
03/18/10 (S) MINUTE(FIN)
03/29/10 (S) FIN AT 9:00 AM SENATE FINANCE 532
03/29/10 (S) <Bill Hearing Postponed>
03/31/10 (S) FIN RPT CS 6DP 1AM NEW TITLE
03/31/10 (S) DP: HOFFMAN, STEDMAN, THOMAS, EGAN,
OLSON, ELLIS
03/31/10 (S) AM: HUGGINS
03/31/10 (S) FIN AT 9:00 AM SENATE FINANCE 532
03/31/10 (S) Moved CSSB 305(FIN) Out of Committee
03/31/10 (S) MINUTE(FIN)
04/01/10 (S) TRANSMITTED TO (H)
04/01/10 (S) VERSION: CSSB 305(FIN)(TITLE AM)
04/05/10 (H) READ THE FIRST TIME - REFERRALS
04/05/10 (H) RES, FIN
04/07/10 (H) RES AT 1:00 PM BARNES 124
04/07/10 (H) Heard & Held
04/07/10 (H) MINUTE(RES)
04/09/10 (H) RES AT 1:00 PM BARNES 124
04/09/10 (H) Heard & Held
04/09/10 (H) MINUTE(RES)
04/10/10 (H) RES AT 10:00 AM BARNES 124
04/10/10 (H) Heard & Held
04/10/10 (H) MINUTE(RES)
04/11/10 (H) RES AT 12:00 AM BARNES 124
04/11/10 (H) Heard & Held
04/11/10 (H) MINUTE(RES)
04/12/10 (H) RES AT 1:00 PM BARNES 124
WITNESS REGISTER
SARAH FISHER-GOAD, Deputy Director - Operations
Alaska Industrial Development and Export Authority (AIDEA) and
Alaska Energy Authority (AEA)
Department of Commerce, Community, & Economic Development
(DCCED)
Anchorage, Alaska
POSITION STATEMENT: Presented SB 301 on behalf of the governor
and answered questions.
TIM BENINTENDI, Staff
Senator Donny Olson
Alaska State Legislature
Juneau, Alaska
POSITION STATEMENT: Presented SB 144 on behalf of the sponsor,
Senator Olson.
ACTION NARRATIVE
1:03:23 PM
CO-CHAIR CRAIG JOHNSON called the House Resources Standing
Committee meeting to order at 1:03 p.m. Representatives
Johnson, Neuman, Seaton, Edgmon, Guttenberg, and Kawasaki were
present at the call to order. Representatives P. Wilson, Olson,
and Tuck arrived as the meeting was in progress.
SB 301-POWER PROJECT FUND
1:03:46 PM
CO-CHAIR JOHNSON announced that the first order of business is
SENATE BILL NO. 301, "An Act relating to the power project fund;
authorizing the Alaska Energy Authority to charge and collect
fees relating to the power project fund; authorizing the Alaska
Energy Authority to sell and authorizing the Alaska Industrial
Development and Export Authority to purchase loans of the power
project fund; providing legislative approval for the sale and
purchase of loans of the power project fund under the memorandum
of understanding dated February 17, 2010; and providing for an
effective date."
CO-CHAIR JOHNSON reviewed the day's schedule, including the
intent to go into executive session at 4:00 p.m. during which
Commissioner Galvin will discuss decoupling per SB 305.
1:04:58 PM
SARAH FISHER-GOAD, Deputy Director - Operations, Alaska
Industrial Development and Export Authority (AIDEA) and Alaska
Energy Authority (AEA), Department of Commerce, Community, &
Economic Development (DCCED), on behalf of the governor,
informed the committee that SB 301 relates to the Power Project
Fund (PPF), which is an AEA-owned fund. This legislation allows
AEA to sell the loan portfolio to AIDEA, which will provide cash
to the PPF for upcoming projects. Ms. Fisher-Goad related that
there has been much more demand of this fund, particularly for
renewable energy projects. She clarified that SB 301 would
allow AEA to sell the PPF and for AIDEA to purchase it. The
aforementioned would recapitalize the PPF with approximately
$20.6 million. This legislation also authorizes AEA to
establish fees for the program as there are currently no
application or origination fees. The Bulk Fuel Revolving Loan
Fund does charge application and origination fees and the intent
is to do something similar for PPF loans
1:06:22 PM
CO-CHAIR JOHNSON inquired as to why this is necessary.
MS. FISHER-GOAD explained that the primary purpose is to provide
new cash for new projects. The PPF is approximately $35 million
worth of assets, of which it's not a lot of cash. Therefore, SB
301 would provide a way to raise cash for new projects.
1:06:58 PM
CO-CHAIR NEUMAN, referring to Section 2 of SB 301, asked if Ms.
Fisher-Goad anticipates any changes in the regulations as they
are repealed and reenacted.
MS. FISHER-GOAD clarified that Section 2 repeals and reenacts
[AS 42.45.010(d)] in order to allow AIDEA to charge fees. In
further response to Co-Chair Neuman, Ms. Fisher-Goad reiterated
that SB 301 would allow AIDEA to charge an application fee and
an origination fee. She noted that in order to adopt a fee
schedule, a public process will have to be followed. In further
response to Co-Chair Neuman, Ms. Fisher-Goad explained that the
Renewable Energy Fund is a new program, a grant recommendation
program. The program is set to go through five rounds of
project evaluation and funding. Round 1 was the $100 million
that AEA received in fiscal year (FY) 2009 and that was the only
round that went through a Legislative Budget and Audit Committee
approval process. Last year, the legislature appropriated $25
million and directed AEA to use its list of projects to fund $25
million worth of projects. Before the legislature this year is
a request for the Round 3 projects to be funded. In the capital
budget that's still being considered in the Senate, the funding
level requested is $50 million for [the Renewable Energy Fund].
One of the evaluation criteria for the Renewable Energy Fund is
matching funds. The PPF, which has been in existence for some
time, has been a funding source that's being used for the match
requirement for many local entities that apply for the Renewable
Energy Fund. The PPF, she clarified, exists independently on
its own and has a separate evaluation process. Ms. Fisher-Goad
further clarified that no new program is being created, funds
are just being provided to continue to provide loans for power
projects.
1:11:06 PM
CO-CHAIR NEUMAN asked from where the initial funds for the PPF
originated.
MS. FISHER-GOAD said that although the PPF has existed for a
long time, she didn't know when it was established. However,
the PPF had to have legislative action to provide funds to the
program. She estimated that the aforementioned may have
occurred in the 1980s. Over the last 10 years, AEA hasn't had a
new injection of cash into the PPF, save some specific projects
through a match requirement that was through the Energy Cost
Reduction program, which was a Denali Commission funded program.
1:12:27 PM
REPRESENTATIVE SEATON related his understanding that this is a
discussion of transferring actual securities rather than a
securitized package.
MS. FISHER-GOAD explained that AIDEA would purchase [the PPF] as
an investment, and therefore AIDEA receives the loans and the
associated cash flow. However, AEA receives the cash that is
the value of those loans. She further explained that AEA would
receive the cash to be injected into the fund, while AIDEA would
receive the investment and the cash flow of those loan payments
from now until they mature. She recalled that one of the loans
matures in 20 years.
REPRESENTATIVE SEATON said that he wanted to be clear that
[AIDEA] is actually purchasing the entire loan, but isn't
creating a securitized loan package.
MS. FISHER-GOAD guaranteed that [under SB 301] it's strictly a
"cash for future cash flow" transaction.
1:14:19 PM
CO-CHAIR JOHNSON pointed out that there are some zero interest
loans, and inquired as to the value they have.
MS. FISHER-GOAD clarified that a discount rate for the cash flow
is applied for AIDEA's purchase price. For example, the cash
flow is the 30 years of principal and interest payments, which
is discounted back at a 6.02 percent interest rate discount.
Therefore, AIDEA would pay approximately $20.6 million for
future cash flow of approximately $24-$27 million.
1:15:15 PM
CO-CHAIR JOHNSON, after ascertaining no one wished to testify,
closed public testimony.
1:15:55 PM
CO-CHAIR JOHNSON requested an explanation of the larger picture
of what is being done.
MS. FISHER-GOAD informed the committee that with the passage of
SB 301, HB 412 will receive capitalization that was originally
proposed in the governor's budget for the PPF. Therefore, it's
a situation in which the $7 million requested in the governor's
budget would be reduced by the $3.5 million to pay for the
fiscal note on [HB 412], the micro loan program.
1:17:17 PM
CO-CHAIR JOHNSON noted that SB 301, with a savings of $3
million, will next go to the House Finance Committee.
1:17:33 PM
CO-CHAIR NEUMAN moved to report SB 301 out of committee with
individual recommendations and the accompanying fiscal notes.
There being no objection, it was so ordered.
1:18:09 PM
The committee took a brief at-ease.
SB 144-MUSK OXEN PERMITS & FEES
1:18:57 PM
CO-CHAIR JOHNSON announced that the next order of business is CS
FOR SENATE BILL NO. 144(FIN), "An Act relating to hunting
permits and tag fees for musk oxen."
1:19:22 PM
TIM BENINTENDI, Staff, Senator Donny Olson, Alaska State
Legislature, provided the following testimony:
At its core, Senate Bill 144 would authorize a second
permit hunt for resident and subsistence hunters for
the taking of musk ox. It would double the chances of
taking an animal, but it would not change the bag
limit which currently stands at one animal, either a
bull or a cow. Nonresident hunters would not qualify.
If a hunter did not harvest a musk ox under the first
permit, then a second permit could be issued upon
application for another chance in a different hunt
area or in a different game management unit. Musk
oxen are the only game animals in Alaska for which the
one permit restriction still applies. There are four
game management units in the state where these animals
are found. Unit 18 is on both Nunivak and Nelson
Islands, Unit 22 and 23 are on the Seward Peninsula
and in the Northwest, and Unit 26 is in the Northeast.
The wild musk ox population is currently estimated to
be at 4,400 animals; and annually between 325 and 350
are available for harvest. Wildlife biologists and
regulators within the Department of Fish & Game have
determined that the health and size of the state's
herd is well past the threshold for expanding hunting
opportunities. They estimate that a minimum number of
permits will be issued under this bill and perhaps 25
more animals might be harvested annually.
Under Senate Bill 144, the Board of Game would have
the authority to reduce or eliminate subsistence tag
and fee requirements. And because Senate Bill 144
changes a year from a calendar year to a regulatory
year, which is July 1st to June 30th, the department
would be able to issue permits for seasons which
straddle the calendar year and not have to charge a
hunter twice and issue two permits for the same
season. If passed, this legislation would take effect
in August. And the bill carries a zero fiscal note,
has the support of the department, support of the
hunting community in the Northwest Alaska, including
the Northern and Southern Norton Sound Advisory
Committees, and the Seward Peninsula Musk Ox
Cooperators Group.
1:21:47 PM
MR. BENINTENDI, in response to Co-Chair Johnson, stated that the
next committee of referral for SB 144 is the House Finance
Committee.
1:21:59 PM
CO-CHAIR JOHNSON then inquired as to how one permit, rather than
two, can be issued due to straddling the year without having an
impact.
MR. BENINTENDI informed the committee that currently there is a
season from August until March. Currently, the hunter would
have to apply and obtain a permit. Assuming that hunter doesn't
take an animal by January 1st, that hunter would have to apply
for the permit again and pay again. This legislation would
change the year basis upon which that structure is based. In
further response to Co-Chair Johnson, Mr. Benintendi confirmed
that there could be a negligible revenue factor. He related
that [the Alaska Department of Fish & Game (ADF&G)] estimated
that under the proposed system there would be less than 50
permits. However, they estimate that the increased amount of
animals taken will be about 25.
1:23:18 PM
CO-CHAIR NEUMAN related his understanding that hunters will
still have to purchase a hunting license each year, [but under
SB 144] a hunter who doesn't harvest an animal will continue to
have a permit that will carry through. Co-Chair Neuman opined
that there wouldn't be any fiscal impact since the hunter will
have to purchase a hunting license the next year in order to use
that [tag] they already have [through the permit they already
have].
1:24:03 PM
CO-CHAIR JOHNSON clarified that SB 144 only extends the tags,
not the hunting license through the permit period.
MR. BENINTENDI noted his agreement. He then added that this
doesn't impede any of the Board of Game's current authority, in
fact it provides the board a bit more liberty.
1:24:26 PM
REPRESENTATIVE SEATON surmised then that a person who purchases
a $500 resident tag is entitled to a bag limit of one. That
person can then apply for another permit and purchase it for
another $500. He further surmised that the bag limit for the
permit is one, but he questioned whether the bag limit of the
season is increased to as many multiples of the $500 as the
person purchases.
MR. BENINTENDI replied no, and added that the person doesn't pay
a second time. If SB 144 passes, then a person would have the
opportunity to have a second permit. The Board of Game would
determine the fee structure.
1:25:38 PM
REPRESENTATIVE SEATON pointed out that on page 2, line 5, of SB
144 the language "a person is not eligible for more than one
musk oxen permit a year." is being eliminated. He asked if that
means a person can take two or three musk oxen. "The question
is can a person, at the same time, hold more than one permit and
get one animal on the bag limit for that permit, if we eliminate
lines 5-6, ... on page 2," he asked.
MR. BENINTENDI related that his understanding is no. He opined
that a person is allowed one animal per year regardless of the
number of attempts or location.
1:26:52 PM
REPRESENTATIVE P. WILSON, referring to the sectional analysis,
surmised that SB 144 would allow an individual who holds a
permit but didn't harvest an animal to have another chance [to
harvest an animal.
MR. BENINTENDI replied yes, the legislation would provide one
more chance.
1:27:45 PM
REPRESENTATIVE SEATON said that he understands the intent, but
he expressed concern with deleting the language on page 2, lines
5-6, because it's essentially saying a person can have more than
one musk ox permit a year.
MR. BENINTENDI responded that would likely still fall to the
Board of Game to regulate. He related that he hasn't heard any
concern for the taking of multiple animals.
CO-CHAIR NEUMAN pointed out that the regulations for each game
management unit can be different and can be changed [per the
Board of Game].
CO-CHAIR JOHNSON remarked that although he believes [the
legislation] would do what Representative Seaton is concerned
about, he indicated that it's a decision for the Board of Game.
REPRESENTATIVE SEATON explained that he raised the issue because
the language was in statute to ensure there wasn't a multiple
safari hunt or multiple game animals [harvested]. He said that
although he didn't want to hold the legislation, he did want the
sponsor to make sure what the legislation achieves prior to
being forwarded to the House Finance Committee.
CO-CHAIR JOHNSON requested that Mr. Benintendi pass on this
concern to the sponsor.
1:31:53 PM
REPRESENTATIVE KAWASAKI expressed concern that portions of the
sponsor's statement seem ambiguous. He opined that he's unclear
as to whether Representative Seaton's concern is correct.
CO-CHAIR JOHNSON reiterated that he has asked the sponsor,
Senator Olson, to clearly spell out the intent of the
legislation. He related his intention to forward the
legislation with the aforementioned caveat.
1:33:15 PM
MR. BENINTENDI remarked that it's a valid question that deserves
an answer, which he could forward to the committee.
1:33:24 PM
REPRESENTATIVE EDGMON opined that it seems implicit that the
Board of Game is being given another tool through SB 144. There
are four far flung game management units and animals that are
likely growing beyond their threshold. In the event it's
necessary to allow harvesting more than one animal, there would
be the authority to do so.
1:33:56 PM
CO-CHAIR JOHNSON remarked that although he believes [the taking
of more than one animal] should be an option, it should be
discussed.
1:34:13 PM
CO-CHAIR NEUMAN pointed out that there are many areas in the
state where multiple animals can be harvested, it depends upon
the population in a given area. The aforementioned is a
decision for the Board of Game to make and the legislation
clearly refers to the regulations.
1:35:06 PM
REPRESENTATIVE KAWASAKI remarked that he wouldn't have a problem
moving SB 144 if he's assured that it will be forwarded to the
House Finance Committee with a zero fiscal note.
CO-CHAIR JOHNSON said that SB 144 does have a referral to the
House Finance Committee because it involves fees.
MR. BENINTENDI interjected that the sponsor isn't interested in
waiving SB 144 from the House Finance Committee.
1:35:44 PM
REPRESENTATIVE SEATON remarked that although he has full
confidence in the Board of Game, the board may not have
addressed this in the regulations because the statute says not
more than one animal a year can be taken. Therefore, he wanted
to raise the issue so that the Board of Game will be on notice
that its regulations may not address this.
1:36:23 PM
CO-CHAIR JOHNSON, upon determining no one wished to testify,
closed public testimony.
1:36:51 PM
CO-CHAIR NEUMAN clarified that SB 144 would allow people to use
their permit to harvest game when that game is still available,
the season is still open, [and the person didn't harvest under
their initial permit].
REPRESENTATIVE KAWASAKI commented that other units, such as the
Central Arctic herd, have similar rules and regulations.
CO-CHAIR JOHNSON surmised that this legislation is in response
to a constituent who came forward with a problem.
1:38:53 PM
REPRESENTATIVE EDGMON moved to report CSSB 144(FIN) from
committee. There being no objection, it was so ordered.
1:39:19 PM
CO-CHAIR JOHNSON announced his intent to recess until 4:00 p.m.
today at which time the committee will enter into executive
session to hear from the attorney general regarding matters of
taxes and issues that are confidential.
4:22:52 PM
CO-CHAIR NEUMAN called the meeting back to order at 4:22 p.m.
Upon reconvening Representatives Tuck, Seaton, P. Wilson,
Edgmon, Olson, Johnson, and Neuman were present. Representative
Guttenberg arrived as this portion of the meeting was in
progress.
SB 305-SEPARATE OIL & GAS PROD. TAX/ DEDUCTIONS
4:23:20 PM
CO-CHAIR JOHNSON announced that the next order of business is CS
FOR SENATE BILL NO. 305(FIN)(title am), "An Act providing that
the tax rate applicable to the production of oil as the average
production tax value of oil, gas produced in the Cook Inlet
sedimentary basin, and gas produced outside of the Cook Inlet
sedimentary basin and used in the state increases above $30
shall be 0.4 percent multiplied by the number that represents
the difference between that average monthly production tax value
and $30, or the sum of 25 percent and the product of 0.1 percent
multiplied by the number that represents the difference between
that average monthly production tax value and $92.50, except
that the total rate determined in the calculation may not exceed
50 percent; providing for an increase in the rate of tax on the
production of gas as the average production tax value on a BTU
equivalent barrel basis of gas produced outside of the Cook
Inlet sedimentary basin and not used in the state increases
above $30; relating to payments of the oil and gas production
tax; relating to availability of a portion of the money received
from the tax on oil and gas production for appropriation to the
community revenue sharing fund; relating to the allocation of
lease expenditures and adjustments to lease expenditures; and
providing for an effective date." [Before the committee is HCS
CSSB 305, Version 26-LS1577\M, Bullock, 4/10/10.]
4:23:33 PM
CO-CHAIR JOHNSON moved that the committee enter into executive
session under Uniform Rule 22(b)(1) and (3) for the purpose of
discussing matters, the immediate knowledge of which would
adversely affect the finances of the state government and may,
by law, be required to be confidential. He directed Rex
Shattuck, Staff to Representative Neuman, Alaska State
Legislature, to remain in the executive session. It was then
noted that [Attorney General Dan Sullivan, Department of Law];
Tina Kobayashi, Chief Assistant Attorney General - Statewide
Section Supervisor, Oil, Gas & Mining Section, Department of
Law; and Jonathan Katchen, Special Assistant Attorney, Office of
the Attorney General, Department of Law, would also remain in
the executive session. The committee then entered into
executive session.
[Due to technical difficulties no audio is available for the
committee's return from executive session at 6:02 p.m. and the
reconvening of the public meeting.]
CO-CHAIR JOHNSON announced the next House Resources Standing
Committee meeting is scheduled for 9:00 a.m. on April 13, 2010.
ADJOURNMENT
There being no further business before the committee, the House
Resources Standing Committee meeting was adjourned at 6:02 p.m.
| Document Name | Date/Time | Subjects |
|---|---|---|
| SB 144 Bill Packet.pdf |
HRES 4/12/2010 1:00:00 PM |
SB 144 |
| SB 301 Bill Packet.pdf |
HRES 4/12/2010 1:00:00 PM |
SB 301 |