Legislature(2015 - 2016)BUTROVICH 205

03/02/2016 03:30 PM Senate RESOURCES

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Moved CSSB 125(RES) Out of Committee
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+ Bills Previously Heard/Scheduled TELECONFERENCED
        HB 100-UREA/AMMONIA/GAS-LIQ FACILITY; TAX CREDIT                                                                    
3:31:16 PM                                                                                                                    
CHAIR GIESSEL  announced consideration of HB  100. [CSHB 100(FIN)                                                               
was before the committee.]                                                                                                      
REPRESENTATIVE MIKE  CHENAULT, Alaska State  Legislature, sponsor                                                               
of HB 100,  explained that the bill establishes  a credit against                                                               
the  income   tax  for  an  in-state   processing  facility  that                                                               
manufactures urea,  ammonia, or gas-to-liquid products.  The [tax                                                               
credit] is related  to the value of the state's  royalty share of                                                               
gas  production  based  on   contracts  with  certain  processing                                                               
facilities.  He said  there  will be  wide  reaching effects  for                                                               
agriculture  in   the  [Matanuska-Susitna]  valley   and  "toward                                                               
3:33:29 PM                                                                                                                    
REPRESENTATIVE CHENAULT said the "first  section came on line" in                                                               
1968,  and  "the  second  process  came in  the  70s."  The  bill                                                               
proposes  to help  bring back  an  aged facility  that still  has                                                               
meaning for  the State of  Alaska, and  there will be  about $275                                                               
million  invested by  the corporation  that is  looking to  bring                                                               
this  facility back  up. It  would supply  about 140  high-paying                                                               
jobs that will  go to Alaskans, he said.  These were historically                                                               
Alaskan jobs,  mostly based  in the  Kenai area,  and 300  to 600                                                               
workers will  be hired  to get  the facility  back on  line. "For                                                               
some reason, tax credits are bad  in the State of Alaska now," he                                                               
said.  The state  has a  revenue problem,  and Alaska  is deficit                                                               
spending, he explained.                                                                                                         
SENATOR WIELECHOWSKI joined the committee.                                                                                      
REPRESENTATIVE CHENAULT  said he would  like to change  "the tone                                                               
of  this into  a tone  that is  about the  state collecting  more                                                               
revenue." He stated that the gas  is not under production, and it                                                               
will be  a long  time before  gas on  state leases  is developed,                                                               
"and  possibly never."  The  bill provides  an  avenue where  the                                                               
state can  help a corporation  bring a  facility back up  with no                                                               
upfront money,  he said. The company  will not receive a  dime of                                                               
credit until it  is using gas, and  it could bring in  $15 to $18                                                               
million a year if it uses the amount  of gas that it can use with                                                               
one train, he explained.                                                                                                        
3:37:02 PM                                                                                                                    
CHAIR GIESSEL asked if the $15  to $18 million per year refers to                                                               
royalty or production tax.                                                                                                      
REPRESENTATIVE  CHENAULT said,  "It's royalty  gas." He  believes                                                               
that Cook  Inlet royalty is 12.5  percent and said the  amount is                                                               
based on the gas that would actually be used at the facility.                                                                   
SENATOR  COSTELLO noted  that the  sponsor statement  for HB  100                                                               
mentions that the arrangement is for a limited time.                                                                            
REPRESENTATIVE  CHENAULT said  he  believes the  credit would  be                                                               
available for  6.5 years and cannot  be stacked or rolled  to the                                                               
following  year.  If  [the   processing  facility]  continues  to                                                               
operate,  the  state  would  receive  the  full  amount,  or  $18                                                               
million, he explained.                                                                                                          
SENATOR COSTELLO asked if the credits are carry forward.                                                                        
REPRESENTATIVE CHENAULT answered no.                                                                                            
3:38:49 PM                                                                                                                    
SENATOR COGHILL  asked how the  percentage of  ownership interest                                                               
in that particular facility fits into that equation.                                                                            
DON  BULLOCK, House  Majority  Staff,  Alaska State  Legislature,                                                               
Juneau,  explained  that  there  may be  several  owners  of  the                                                               
facility,  "and  that was  just  a  means for  proportioning  the                                                               
credit among different owners."                                                                                                 
SENATOR  WIELECHOWSKI asked  how  much gas  Agrium Inc.  (Agrium)                                                               
will use each year.                                                                                                             
REPRESENTATIVE CHENAULT said  he has seen numbers  between 26 and                                                               
28 billion cubic feet.                                                                                                          
SENATOR  WIELECHOWSKI  asked  if [legislative  consultant,  Janak                                                               
Mayer]  voiced potential  concerns "if  this opens  up about  the                                                               
Cook Inlet supply."                                                                                                             
MR.  BULLOCK  answered that  consultants  Janak  Mayer and  Nikos                                                               
Tsafos of enalytica have testified  that the Cook Inlet market is                                                               
constrained. There are  very limited exports; most  of the market                                                               
is  for limited  commercial and  consumer  use. As  a result,  he                                                               
said,  it   is  difficult  to  encourage   more  exploration  and                                                               
development. The consultants said  that value-added processing by                                                               
Agrium would be  an incentive for more  exploration, "which would                                                               
correspond  with   increases  in  royalties  to   the  state  and                                                               
ultimately more tax after the current limitations expire."                                                                      
3:41:26 PM                                                                                                                    
SENATOR COGHILL asked if the credit is renewable.                                                                               
REPRESENTATIVE CHENAULT  said his understanding  is that it  is a                                                               
6.5-year credit.                                                                                                                
SENATOR  WIELECHOWSKI asked  if Agrium  had approached  the Kenai                                                               
Borough about property tax relief.                                                                                              
REPRESENTATIVE  CHENAULT  answered  that  Kenai  Peninsula  is  a                                                               
second class borough and does not have that power.                                                                              
3:42:40 PM                                                                                                                    
CHAIR GIESSEL opened testimony for invited witnesses.                                                                           
3:42:51 PM                                                                                                                    
STEVE  WENDT,  Manager,  Agrium Kenai  Operations,  Agrium  Inc.,                                                               
Kenai,  Alaska, said  Agrium Inc.  (Agrium)  is headquartered  in                                                               
Alberta,  but it  has numerous  U.S. operations.  The corporation                                                               
produces and  mines the three  primary agricultural  nutrients of                                                               
nitrogen,  potash,  and  phosphate,  and it  sells  the  products                                                               
wholesale and retail worldwide. He  said the [Kenai] facility was                                                               
built  in 1968  by Unocal  because of  the large  supply of  Cook                                                               
Inlet gas, and  Agrium purchased the facility in  2000 to produce                                                               
urea and ammonia.  The facility sold products mostly  to Asia and                                                               
the Lower  48, but a small  volume was sold in  Alaska, which can                                                               
enable  better  agricultural  economics  and  food  security,  he                                                               
stated.  He said  Agrium had  been  a significant  player in  the                                                               
Kenai Peninsula Borough economy; it  was its largest taxpayer and                                                               
contributed to local nonprofit organizations.                                                                                   
3:45:24 PM                                                                                                                    
MR.  WENDT stated  that there  were "gas  curtailments" in  early                                                               
2002,  and after  exploring multiple  opportunities  for new  gas                                                               
supplies, it was forced to close  the plant in 2007. He said that                                                               
Agrium partnered with  the Alaska Department of  Labor by funding                                                               
a transition center in Kenai for laid off employees.                                                                            
3:46:16 PM                                                                                                                    
MR. WENDT said  that the Cook Inlet "renaissance"  has opened the                                                               
possibility that  Agrium could restart its  facility, so policies                                                               
passed  by  the  legislature  have  had  their  intended  impact.                                                               
Because  of the  explorer  tax credits,  Southcentral Alaska  has                                                               
more energy security  with new discoveries of gas  in Cook Inlet,                                                               
he stated. With  Agrium as a consumer, he  expects new production                                                               
to come on line.                                                                                                                
ADAM DIAMOND, Manager, Government  Affairs, Agrium Inc., Calgary,                                                               
Alberta,  Canada,  added  that  HB 100  is  designed  to  protect                                                               
Alaska, because  it does not  require any  out-of-pocket spending                                                               
to the state,  and it does not impact any  existing state revenue                                                               
streams. The bill does not  require any upfront state obligation,                                                               
and Agrium  will first be required  to invest up to  $275 million                                                               
to get  the plant running  before it will receive  incentives. He                                                               
said  that the  bill  includes a  sunset  provision, and  credits                                                               
cannot be carried  forward or transferred, ensuring  that it will                                                               
always be revenue positive for the state.                                                                                       
SENATOR WIELECHOWSKI asked if Agrium  can get property tax relief                                                               
from the Kenai Peninsula Borough.                                                                                               
MR. WENDT said  the legal finding is that  a second-class borough                                                               
is unable [to reduce property taxes].                                                                                           
SENATOR  WIELECHOWSKI expressed  concern  about  Agrium using  25                                                               
percent  of the  Cook  Inlet gas  supply. He  said  that the  LNG                                                               
[liquefied natural  gas] plant  has acted as  a buffer,  where if                                                               
gas  is  needed  [by  utility companies],  it  would  reduce  its                                                               
production. He asked if Agrium would do that.                                                                                   
MR. WENDT said that prior to  shutting down and Conoco taking the                                                               
role as the swing for utility  usage, Agrium acted as the primary                                                               
player for 40  years, and it cut rates or  shut plants down "when                                                               
utilities made that call." He said  Agrium will always be last in                                                               
line, and the utilities will always be first.                                                                                   
3:50:12 PM                                                                                                                    
MR. WENDT said  this is the only facility that  Agrium has had to                                                               
shut down  and lay  people off,  and Agrium does  not want  it to                                                               
happen again.  There will  be extreme  due diligence  before ever                                                               
starting  it up.  "They want  to  ensure gas  reserves are  there                                                               
first  and foremost  for the  utilities,  other industries,  and,                                                               
finally, Agrium,  for a minimum  10-year term," he  stressed, and                                                               
that is a very difficult hurdle.                                                                                                
3:51:00 PM                                                                                                                    
SENATOR  WIELECHOWSKI  said the  likely  cost,  according to  the                                                               
fiscal note, will be  $3 to $4 million per year,  and it could go                                                               
up to  almost $15  million per  year-or twice  that if  there are                                                               
multiple trains. Typically,  if a business needed  tax relief, it                                                               
would open  its books and show  Alaskans why they should  give up                                                               
millions of  dollars each year. He  said he would be  open to the                                                               
relief if  the corporation  needed it. He  asked if  Agrium would                                                               
provide  information  on its  rates  of  return and  net  present                                                               
values, with  the tax relief  and without it, so  legislators can                                                               
see if the relief is really needed.                                                                                             
MR. WENDT  said he could  provide a current  financial statement.                                                               
This is a very difficult project,  and there is not "an extremely                                                               
high hurdle rate for projects,  being in the agricultural sector,                                                               
but  even so,  commodity  prices are  down,"  including urea  and                                                               
ammonia. He stated that this is  a very difficult project, and $3                                                               
million is significant to the  project and an opportunity for the                                                               
state to participate in opening the plant.                                                                                      
SENATOR  WIELECHOWSKI noted  that an  Agrium financial  statement                                                               
might  not  be that  helpful,  but  he  would  like to  see  some                                                               
modeling based on rates of return and net present value.                                                                        
CHAIR GIESEL asked Mr. Wendt to provide it to the committee.                                                                    
3:53:31 PM                                                                                                                    
SENATOR WIELECHOWSKI asked about Agrium's history of local hire.                                                                
MR.  WENDT replied  that permanent,  full-time employees  will be                                                               
Alaskans, because  workers have a week-on,  week-off schedule, so                                                               
travel  [outside]   would  be  difficult.   Additionally,  Agrium                                                               
requires workers to be available  for overtime during their weeks                                                               
off.  He said  that Agrium  has a  history of  employing over  99                                                               
percent Alaskans "as far as our  140 are concerned." He said that                                                               
the company brings  in specialty contractors, from  time to time,                                                               
but it always  has a long-term maintenance contract  with a local                                                               
MR.  DIAMOND added  that Agrium  is considering  a single  train,                                                               
which will likely create 140  full-time jobs. During the 30-month                                                               
construction  period, "we're  looking  at upwards  of 400  direct                                                               
construction jobs," he stated.                                                                                                  
SENATOR WIELECHOWSKI asked what gas  price will make the facility                                                               
economic considering the higher price of Cook Inlet gas.                                                                        
MR. WENDT  agreed that  [Cook Inlet gas]  would be  the costliest                                                               
gas the company will be buying,  and it might be higher than what                                                               
competitors pay. The only way this  project can work is that "the                                                               
iron is  sitting there; the facility  is there; we've kept  it in                                                               
good  shape." Gas  price yesterday  was  $1.70, and  that is  why                                                               
state assistance is important, he stated.                                                                                       
3:56:05 PM                                                                                                                    
SENATOR MICCICHE joined the committee.                                                                                          
MR. DIAMOND  said it would cost  about $2 billion to  build a new                                                               
facility, so the existence of the plant makes the idea viable.                                                                  
SENATOR WIELECHOWSKI asked if there  are big markets for Agrium's                                                               
product in  Alaska and Asia  and if being  in the state  has that                                                               
MR.  WENDT  confirmed  that transportation  costs  to  Asia  from                                                               
Alaska are  favorable. Prices for  Agrium's product are  low, but                                                               
accessing the Asia market is advantageous.                                                                                      
MR. DIAMOND said Alaska's [market]  will be a small percentage of                                                               
what Agrium  produces, but when  the plant shut  down previously,                                                               
fertilizer prices in Alaska increased by a factor of four.                                                                      
3:58:26 PM                                                                                                                    
CHAIR GIESSEL opened public testimony.                                                                                          
LANCE NELSON,  Iron Workers Local  751, Fairbanks,  Alaska, spoke                                                               
in support  of HB 100.  With a poor  capital budget for  the next                                                               
few years,  this [bill]  would be  a bonus  to the  state. During                                                               
construction, there  will be 200  people working six days  a week                                                               
for $45  per hour, plus overtime,  so there will be  $630,000 per                                                               
week in payroll, and most of  that would go back into the Nikiski                                                               
community. In  the long term,  maintenance jobs would  employ 140                                                               
people, so  140 families  would get good  pay and  hopefully good                                                               
benefits, he stated. "This is costing  the state no money; it's a                                                               
little tax credit," he added.                                                                                                   
SENATOR STOLTZE recalled that the  facility had contentious labor                                                               
issues and "is maybe decertified." He  asked Mr. Nelson if he has                                                               
expectations that the  legislature does not know  about. He added                                                               
that he had no  position on the issue, but he  is curious, and it                                                               
would be in the public's interest.                                                                                              
MR. NELSON said he could not  speak about the company's past, but                                                               
he would just like to see Alaskan jobs for Alaskan families.                                                                    
4:02:25 PM                                                                                                                    
THOM PELLEGROM,  Cook Inlet Asset Manager,  Peak Oilfield Service                                                               
Company, Nikiski, Alaska, spoke in support  of HB 100. He said he                                                               
worked  with Agrium  before it  shut down.  The industry  in Cook                                                               
Inlet is slowly  fading with the [declining] price  of crude, and                                                               
HB 100 is  a job-creating bill. A year ago  his company had about                                                               
525 Alaskans  on the  payroll, and  now there  are 220  with more                                                               
layoffs to come.  He said Agrium is a great  operator and treated                                                               
their people well.                                                                                                              
4:04:43 PM                                                                                                                    
AARON  PLIKET,   President,  Building  and   Construction  Trades                                                               
Council of  Southcentral Alaska, and Business  Agent for Plumbers                                                               
and Steamfitters  local 367, Anchorage,  Alaska, said  the Agrium                                                               
plant was  put on the Kenai  Peninsula for one reason:  cheap and                                                               
abundant  natural gas.  Today the  cheap,  easy gas  is gone,  he                                                               
said, and when  Agrium closed in 2007, he thought  he would never                                                               
see it  open. With new technology  and the discovery of  new gas,                                                               
he is  more hopeful that the  facility will restart. He  said the                                                               
bill is about jobs,  and it is important to look  for ways to put                                                               
Alaskan to work,  which will help keep a pool  of skilled workers                                                               
in Southcentral Alaska  and ready for the next  project. He noted                                                               
that this  is not the year  to be talking about  tax credits, but                                                               
this  is different  because it  does not  cost the  state "unless                                                               
they use the  gas," and then "they would pay  the appropriate tax                                                               
assessment, creating revenue  for the state." He said  it is fair                                                               
for Agrium  to ask  for help in  getting things  going. Regarding                                                               
Senator Stoltze's  comments, this is not  a union/nonunion issue,                                                               
this is about jobs, he stated.                                                                                                  
4:07:28 PM                                                                                                                    
PAUL GROSSI, Lobbyist, Plumbers  and Pipefitters and Ironworkers,                                                               
Juneau, Alaska, said HB 100 is  about jobs for us and revenue for                                                               
the  state.  No  taxes  are  being   paid  now,  so  this  is  an                                                               
opportunity for the  state to get additional  revenue. The credit                                                               
is for  6.5 years, but  construction will take  2 to 3  years, so                                                               
the tax  credit is  only for  a few years.  After that  time, the                                                               
state  will get  royalties  and taxes.  "So is  it  really a  tax                                                               
credit? I don't  know," he said. It seems like  the tax credit is                                                               
misnamed.  He noted  that  future capital  budgets  will be  very                                                               
minimal, and this  is a way to help private  industry and promote                                                               
jobs for Alaskans. The credit will  soften the blow if there is a                                                               
recession. This  is a value-added  industry, and it is  needed to                                                               
diversify Alaska's  economy. He recalled the  last recession when                                                               
construction workers  left for the  Lower-48. Some came  back, he                                                               
stated, but the  younger ones made a life someplace  else, so the                                                               
skilled labor was lost. This  project will bridge that gap "until                                                               
we  get  to the  pipeline  or  some  of these  other  large-scale                                                               
projects where we  need the kind of talent that  these people who                                                               
will be working on this project will provide."                                                                                  
4:12:57 PM                                                                                                                    
SENATOR STOLTZE said  that in 1988 there was a  jobs bill, and he                                                               
believes it  was for under  $10 million, and organized  labor was                                                               
an enthusiastic supporter. He said,  "You can't fight for a union                                                               
contract unless  you create the  job first, so I  appreciate that                                                               
perspective." He  said he will  ask Speaker Chenault to  fill him                                                               
in on the history of "some of the range wars."                                                                                  
4:14:24 PM                                                                                                                    
TOM BRICE,  Business Representative,  Alaska Laborers  Local 341,                                                               
Anchorage, Alaska, said his group supports HB 100.                                                                              
4:15:19 PM                                                                                                                    
MAX  MIELKE, Business  Manager,  Plumbers  and Pipefitters  Local                                                               
262, Juneau,  Alaska, testified  in support of  HB 100  and said,                                                               
"we are all  about jobs, and these are probably  going to be some                                                               
good Alaskan jobs,"  although he is not sure if  his members will                                                               
have access  to them.  He said  he is  unsure of  Alaska's future                                                               
beyond  next year,  which  is  a little  scary,  but he  strongly                                                               
supports the bill.                                                                                                              
4:16:13 PM                                                                                                                    
BRANDON  MCGUIRE,   Plumbers  and  Pipefitters,  UA   Local  367,                                                               
Anchorage,  Alaska,  said Agrium  has  the  potential to  have  a                                                               
positive  impact on  Alaska's economy,  because capital  projects                                                               
are  going to  become  scarce. Many  Alaska construction  workers                                                               
rely on capital projects. As part  of his job, he said, he speaks                                                               
with skilled  union and nonunion craftspeople.  Both groups agree                                                               
on the need to work, and this  project can employ a wide range of                                                               
labor  for  recommissioning the  plant  and  for running  it,  he                                                               
stated. Giving  a tax break  comes at  a time when  Alaska cannot                                                               
afford it, but  the return should allow the state  to recoup much                                                               
more. The  tax credit provides $3  million per year for  about 10                                                               
years, and the return can be  worth more than $17 million yearly.                                                               
He  likened  it  to  an  investment  return  of  several  hundred                                                               
percent. He added that skilled  labor "does not have the tendency                                                               
to sit around  on its haunches and wait for  something to happen;                                                               
the term 'baby  boomers' did not come from people  not willing to                                                               
work  outside  of  their  immediate   region."  He  reminded  the                                                               
committee that  if there are  no employment opportunities  in the                                                               
state, people  will move elsewhere.  He said that he  speaks with                                                               
people every  day from different  states who are willing  to move                                                               
to Alaska. His  fear is not that  he will have to  tell them that                                                               
he  does not  have anything  now, but  that it  will be  Alaskans                                                               
doing the same thing in the near future, he concluded.                                                                          
CHAIR GIESEL said she will keep public testimony open.                                                                          
4:20:29 PM                                                                                                                    
SENATOR MICCICHE  said ratepayers  are concerned  about utilities                                                               
having an adequate supply of Cook Inlet natural gas.                                                                            
MR.  WENDT  answered that  Enstar  just  signed a  contract  with                                                               
Hilcorp  "that provides  them 70  percent" into  March, 2023.  He                                                               
said that  Chugach Electric [Association, Inc.]  has "100 percent                                                               
out  through  2022; HEA  [Homer  Electric  Association, Inc.]  is                                                               
satisfied,  I believe,  through  2019." He  said ML&P  [Anchorage                                                               
Municipal  Light   &  Power]   just  purchased   properties  from                                                               
ConocoPhillips,  and he  assumes  it is  satisfied  for the  near                                                               
term. He  noted that prior  to Agrium  shutting down, it  had the                                                               
role of "swing"  and would cut rates or shut  down when requested                                                               
by the utilities.  He said that "without question  that's what we                                                               
would do,  and we  would expect  to do the  same in  the future."                                                               
This is the  only facility Agrium has ever shut  down, and Agrium                                                               
will not  be put in the  same position of having  a fully staffed                                                               
plant  with no  gas. He  explained  that Agrium  is setting  high                                                               
standards of due  diligence and requiring proven  reserves for at                                                               
least ten years for utilities,  other industries, and for Agrium.                                                               
"If we can  satisfy all of that,  then we will go  ahead and fund                                                               
this project," he stated.                                                                                                       
SENATOR MICCICHE said his first oil  field job was at Agrium. The                                                               
community  misses the  company,  which was  generous, and  Agrium                                                               
retirees are still  active in the community.  When the facilities                                                               
shut  down, "the  really quality  oilfield  service providers  go                                                               
away," which makes it more  expensive for the utilities. It takes                                                               
more than one "employee unit" to  do a job when the employees are                                                               
newer  and  less  experienced,  he  said, and  the  cost  to  our                                                               
ratepayers  "becomes significant."  He asked  about balance:  "We                                                               
really have too little for starting  up all of the facilities but                                                               
too  much to  keep oil  and gas  companies looking  hard in  Cook                                                               
Inlet." He asked how "that  80 million-a-day demand" would affect                                                               
exploration and development in Cook Inlet.                                                                                      
4:25:35 PM                                                                                                                    
MR.  WENDT answered  that incentives  have  resulted in  numerous                                                               
significant  discoveries  of  gas.  Agrium is  working  with  all                                                               
producers in  the inlet, and  it has  seen a lot  of confidential                                                               
information. There have been  several significant discoveries, he                                                               
said,  but  they won't  be  delineated  and developed  without  a                                                               
market. Agrium  will provide a  summer season [of  demand], which                                                               
is lacking  now. The extremes  in the utility market  make things                                                               
difficult  for  producers, he  explained.  Agrium  will help  the                                                               
discoveries be developed.                                                                                                       
SENATOR STOLTZE  said he  did not hear  mention of  the Matanuska                                                               
Electric Association, which is a major customer of Hilcorp.                                                                     
MR. WENDT  apologized for that  oversight but  said he is  not as                                                               
familiar with its contract situation.                                                                                           
SENATOR STOLTZE said  it [serves] about 130,000  people. He asked                                                               
about emergency storage.                                                                                                        
MR.  WENDT explained  that the  ConocoPhillips LNG  facility next                                                               
door has acted as "swing"  during the summer. "We understand that                                                               
utilities will always come first."                                                                                              
4:29:19 PM                                                                                                                    
SENATOR STOLTZE said  that the previous mayor of  Anchorage had a                                                               
proactive energy policy committee, and  he asked if it continues,                                                               
or  "did that  go by  the way,  so we  could spend  more time  on                                                               
MR. WENDT said he was not familiar with an energy committee.                                                                    
SENATOR WIELECHOWSKI said  the oil and gas  industry testified in                                                               
the House  that if tax credits  decline in Cook Inlet  there will                                                               
be decreased investment.                                                                                                        
MR.  WENDT said  he agrees.  Tax credits  in Cook  Inlet need  to                                                               
remain for  two years for the  Agrium project to be  viable. More                                                               
than one  producer has  told him  that. He  said Agrium  might be                                                               
able to  assist in reducing  those credits once it  is operating,                                                               
he added.                                                                                                                       
SENATOR WIELECHOWSKI asked  if Agrium's position is  that oil and                                                               
gas tax credits in Cook Inlet must remain for two years.                                                                        
MR. WENDT  said he  was not  familiar with  all credits,  but the                                                               
producers have said  that the credits that do not  expire in 2016                                                               
need to remain for two years to make their projects viable.                                                                     
SENATOR MICCICHE said  he managed the [Agrium]  facility for many                                                               
years, and Mr. Wendt is used to dealing with him.                                                                               
4:32:33 PM                                                                                                                    
CHAIR GIESSEL held HB 100 in committee.                                                                                         

Document Name Date/Time Subjects
HB0100-Version S.PDF SRES 3/2/2016 3:30:00 PM
HB 100
HB0100 - Sponsor Statement.pdf SRES 3/2/2016 3:30:00 PM
HB 100
HB0100-Supporting Document- Agrium Overview.pdf SRES 3/2/2016 3:30:00 PM
HB 100
HB0100-Supporting Document-McDowell Report-Agrium (2013).pdf SRES 3/2/2016 3:30:00 PM
HB 100
HB0100-Supporting Document-McDowell Report-Agrium Updated (2015).pdf SRES 3/2/2016 3:30:00 PM
HB 100
HB0100-Letter of Support-Furie.pdf SRES 3/2/2016 3:30:00 PM
HB 100
HB0100-Letter of Support-Sherwood.pdf SRES 3/2/2016 3:30:00 PM
HB 100
HB0100-Letter of Support-Udelhoven.pdf SRES 3/2/2016 3:30:00 PM
HB 100
HB0100-Fiscal Note-Tax-DOR-2-26-2016.pdf SRES 3/2/2016 3:30:00 PM
HB 100
SB0125-Version E.PDF SRES 3/2/2016 3:30:00 PM
SB 125
SB 0125 - Sponsor Statement.pdf SRES 3/2/2016 3:30:00 PM
SB 125
SB0125-Fiscal Note-AGDC-DCCED-2-29-2016.pdf SRES 3/2/2016 3:30:00 PM
SB 125
SB0125-Supporting Document-Legislative Membership State Boards and Commissions.pdf SRES 3/2/2016 3:30:00 PM
SB 125