Walker signs HB 247; SB 125 on his desk

Gov. Bill Walker said June 29 in a press availability that he has signed House Bill 247, the administration’s oil and gas tax credits measure. The measure was amended in both the House and the Senate, and a conference committee substitute garnered sufficient votes to pass.

Walker said good work had been done in that bill in addressing Cook Inlet oil tax credit issues, but also said North Slope issues needed to be addressed. The governor has included oil tax credits as one of three subjects for the special session called for July 11.

“An act relating to the oil and gas production tax, tax payments, and credits; relating to oil and gas lease expenditures, and production tax credits for municipal entities, and relating to the interest applicable to delinquent taxes,” is one of three items on the call for the special session, providing an opportunity for the administration to introduce new oil tax credit legislation in July.

Another measure - this one initiated by legislators - has gone to the governor’s desk; he has until July 25 to sign or veto the bill, or allow it to become law without this signature.

Senate Bill 125 would add three legislators to the Alaska Gasline Development Corp. board as non-voting members: One member each from the Senate and the House, appointed by the president of the Senate and the speaker of the House; and one member of the minority caucus from either the House or the Senate, appointed jointly by the president of the Senate and the speaker of the House.

The board currently consists of two commissioners and five public members appointed by the governor and approved by the Legislature.

- Petroleum News