The Seal of the State of Alaska
  Help    

   
Alaska State Legislature
    Home  |  News  |  Legislators  |  Committees  |  Bills  |  Surveys  |  Archives  |  AchievementsAlaska State Legislature
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature

Advanced Search
Alaska State Legislature
· Rep. Mike Chenault  
· Rep. Kevin Meyer  
· Contact Rep. Chenault's Staff  
· Contact Rep. Meyer's Staff  
Alaska State Legislature
Alaska State Legislature
24th Alaska State Legislature
The 24th Alaska State Legislature
Rep. Chenault and Rep. Meyer Links
Rep. Mike ChenaultRep. Kevin Meyer

Click image for large 5'' x 7'' portrait

Rep. Mike Chenault
State Capitol, Room 505
Juneau, AK 99801-1182
Phone: (907) 465-3779
Fax: (907) 465-2833
      Click image for large 5'' x 7'' portrait

Rep. Kevin Meyer
State Capitol, Room 515
Juneau, AK 99801-1182
Phone: (907) 465-4945
Fax: (907) 465-3476

House Finance Passes PTT Legislation
Alaska State Legislature
Alaska State Legislature
Attachments Attachments

 
Released:
May 6, 2006


"This is a step forward in Alaska's future and an opportunity to capture a higher return for our resources when prices are high."
- Rep. Chenault

 

(Juneau) - The House Finance Committee passed the Committee Substitute for Senate Bill 305 this morning, by a vote of 9-2.

The Committee Substitute is a combination of SB 305, as passed by the Senate, and the House Resources, HB 488, retaining provisions from both bills. The House Finance version retains the 20/20 credit rate in both the oil and gas tax rate and the investment credit rate. The CS retains progressivity, which allows a higher tax rate at higher prices.

The bill also includes a provision to reduce the Cook Inlet oil tax rate to 5%.

House Finance Co-Chair Mike Chenault (R-Nikiski) said, "We are trying to ensure that Alaska is open to investment by both producers and explorers. We hope to see, with this proposed tax structure, more exploration. This is a step forward in Alaska's future and an opportunity to capture a higher return for our resources when prices are high." He continued, "The House Finance Committee has done its best to be fair with industry while representing the best interests of Alaska."

"The package that Finance has proposed is a bill that keeps the tax rate low enough to attract more investment to Alaska, yet captures Alaska's fair share. With progressivity, we protect Alaska's interests as prices increase. We've done our best to strike the delicate balance," said Representative Kevin Meyer (R-Anchorage).

CSSB 305 now moves to the House floor for consideration.

# # #

"The package that Finance has proposed is a bill that keeps the tax rate low enough to attract more investment to Alaska, yet captures Alaska's fair share."
- Rep. Meyer

 
Attachments:
 
·
Print Text Version
· Acrobat PDF Version [PDF - 1 page - 19 KB]
· Petroleum Production Tax Overview
· SB 305 Backup Material and On-Line Resources
· Charts - Graphs by Econ One for the Final House version of SB 305 [PDF - 31 KB]
· Complete Bill Text for SB 305


Sign Up For E-News!

Unsubscribe  Privacy
Alaska State Legislature
· 25th Legislature Info
House Majority
House Minority
Senate Majority
Senate Minority
BASIS
 
· 24th Leg. Special Session Info  
· Oil & Gas Production Tax Information  
· Keyword Search  
· Legislator Districts  
· Photo Table  
· Passed Legislation  
· Past Legislatures  
· More Web Tools  
· Majority Press Staff  
· Information Offices  
Requires Real Audio Player = Adobe PDF Reader  
Requires Real Audio Player = Real Audio Player  
Requires Real Audio Player = MP3 Audio Player  
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature

1 Viewer(s)

Total at this time.
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature
· Contact Staff  
· Biography  
· Committee Memberships  
· Finance Committee  
· Press Releases  
· Audio Clips  
· Opinion-Editorial  
· Personal Legislation  
· Co-Sponsored Legislation  
· District Newsletters
& Info
 
· District Web Directory  
· 23rd Legislature  
· 22nd Legislature  
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature
· Contact Staff  
· Biography  
· Committee Memberships  
· Finance Committee  
· Press Releases  
· Audio Clips  
· Opinion-Editorial  
· Personal Legislation  
· Co-Sponsored Legislation  
· District Newsletters
& Info
 
· District Web Directory  
· Photo Gallery  
· 23rd Legislature  
· 22nd Legislature  
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature
Home  |  News  |  Legislators  |  Committees  |  Bills  |  Surveys  |  Archives  |  E-News  |  HelpAlaska State Legislature
Alaska State Legislature
The Official Web Site of the House and Senate Legislative Majorities
for the Alaska State Legislature

To Report Technical Problems or Contact Webmasterse-mail address list