24th Legislature(2005-2006)

Bill History/Action for 24th Legislature


BILL: HB 488 SHORT TITLE: OIL AND GAS PRODUCTION TAX
BILL VERSION:
CURRENT STATUS: (H) FIN STATUS DATE: 03/22/06
SPONSOR(S): RULES BY REQUEST OF THE GOVERNOR

TITLE: "An Act repealing the oil production tax and gas production tax and providing for a production tax on the net value of oil and gas; relating to the relationship of the production tax to other taxes; relating to the dates tax payments and surcharges are due under AS 43.55; relating to interest on overpayments under AS 43.55; relating to the treatment of oil and gas production tax in a producer's settlement with the royalty owner; relating to flared gas, and to oil and gas used in the operation of a lease or property, under AS 43.55; relating to the prevailing value of oil or gas under AS 43.55; providing for tax credits against the tax due under AS 43.55 for certain expenditures, losses, and surcharges; relating to statements or other information required to be filed with or furnished to the Department of Revenue, and relating to the penalty for failure to file certain reports, under AS 43.55; relating to the powers of the Department of Revenue, and to the disclosure of certain information required to be furnished to the Department of Revenue, under AS 43.55; relating to criminal penalties for violating conditions governing access to and use of confidential information relating to the oil and gas production tax; relating to the deposit of money collected by the Department of Revenue under AS 43.55; relating to the calculation of the gross value at the point of production of oil or gas; relating to the determination of the net value of taxable oil and gas for purposes of a production tax on the net value of oil and gas; relating to the definitions of 'gas,' 'oil,' and certain other terms for purposes of AS 43.55; making conforming amendments; and providing for an effective date."

Bill Number:
Jrn-DateJrn-PageAction
02/21/062593(H)READ THE FIRST TIME - REFERRALS
02/21/062593(H)RES, FIN
02/21/062593(H)FN1: ZERO(DNR)
02/21/062593(H)FN2: (REV)
02/21/062593(H)GOVERNOR'S TRANSMITTAL LETTER
03/22/062834(H)RES RPT CS(RES) NT 6DP 1DNP 1AM
03/22/062834(H)DP: GATTO, SEATON, ELKINS, OLSON, RAMRAS, SAMUELS;
03/22/062834(H)DNP: CRAWFORD;
03/22/062834(H)AM: KAPSNER
03/22/062836(H)FN1: ZERO(DNR)
03/22/062836(H)FN2: (REV)
03/22/062836(H)REFERRED TO FINANCE

Similar Subject Match or Exact Subject Match
DISCLOSURE
LEASES
OIL & GAS
PIPELINES
RESOURCES
TAXATION