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NEWS BULLETIN

April 16, 2012 --- Vol. 18, No. 30April 2012

Oil tax, in-state pipeline on special session call

Both North Slope oil tax changes and a bill moving work forward on an in-state pipeline.html'>gas pipeline died as the Alaska Legislature gaveled out early this morning.

Within the hour, Gov. Sean Parnell signed a proclamation for a special session.

It will begin at 1 p.m. Wednesday, April 18. On the agenda are: oil tax legislation, an Alaska gas pipeline and tougher penalties for human trafficking.

The Senate, unable to agree on the major oil tax changes proposed in Senate Bill 192, made a last-ditch attempt to pass just a portion of oil tax changes — reduced rates for new oil on the North Slope — by attaching that measure to House Bill 276, a bill providing exploration incentives and reduced taxes for hydrocarbons from six frontier basins.

That bill was withdrawn on the House floor by its original sponsor, Rep. Steve Thompson, R-Fairbanks.

The frontier basins credits and tax reduction did pass, after the House Rules attached those provisions to another bill.

—Kristen Nelson

See story in April 22 issue, available online at 11 a.m., Friday, April 20 at www.PetroleumNews.com

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