SENATE BILL NO. 92                                                                                                            
                                                                                                                                
     "An Act establishing an income tax on certain entities                                                                     
     producing or transporting oil or gas in the state; and                                                                     
     providing for an effective date."                                                                                          
                                                                                                                                
1:34:49 PM                                                                                                                    
                                                                                                                                
Co-Chair  Stedman MOVED  to ADOPT  the committee  substitute                                                                    
for SB 92, Work Draft 34-LS0540\Q (Nauman, 5/1/25).                                                                             
                                                                                                                                
Co-Chair Hoffman OBJECTED for DISCUSSION.                                                                                       
                                                                                                                                
1:35:19 PM                                                                                                                    
                                                                                                                                
LIZ  HARPOLD,  STAFF,  SENATOR DONNY  OLSON,  explained  the                                                                    
changes.   She   stated   that  the   committee   substitute                                                                    
incorporated   two  amendments   that   were  submitted   by                                                                    
committee members, and distributed  earlier that week, which                                                                    
were  technical  fixes to  the  bill.  She stated  that  one                                                                    
amendment  was to  align  with  the intent  of  the bill  so                                                                    
corporations  be taxed  like C-corporations,  and the  other                                                                    
would  foreclose the  argument  that the  exemption did  not                                                                    
cover an entity that was not subject to tax under statute.                                                                      
                                                                                                                                
Co-Chair  Hoffman WITHDREW  the  OBJECTION.  There being  NO                                                                    
further OBJECTION, it was so ordered.                                                                                           
                                                                                                                                
SB  92  was   HEARD  and  HELD  in   committee  for  further                                                                    
consideration.