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 Will increased taxes on the oil industry hurt or help Alaska’s economy? 


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By Washington Monument in Washington D.C.
(March - 2005)

Alaska State Legislature
24th Alaska State Legislature
The 24th Alaska State Legislature
Alaska State Representative Vic Kohring
News & Information

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Session:
State Capitol, Room 24
Juneau, AK 99801-1182
Phone: (907) 465-2186
Fax: (907) 465-3818
District 14 Area Only Toll Free:
(800) 468-2186
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Interim:
600 E. Railroad Ave.
Wasilla, AK 99654
Phone: (907) 373-1842
Fax: (907) 373-4729

716 W. 4th, Suite 680
Anchorage, AK 99501
Phone: (907) 269-0153
Fax: (907) 269-0154

Bill Provides Oil Industry Drilling Incentives
Kohring Measure Intended to Offset Major Tax Increases
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Attachments Attachments

 
Released:
March 30, 2006


"These incentives are the reason many smaller companies have chosen to come to Alaska. Without them, there would be less money invested in drilling and exploring in the state."
- Rep. Kohring

 

(Juneau) - House Bill 386, sponsored by Representative Vic Kohring (R-Wasilla/Mat-Su), is expected to boost oil and gas drilling and production in the state.

The legislation extends existing tax credits until 2010. The credits are used to offset tax liabilities to the state, including production taxes, property taxes, corporate taxes and lease payments.

Representative Kohring said, "These incentives are the reason many smaller companies have chosen to come to Alaska. Without them, there would be less money invested in drilling and exploring in the state."

In addition, Representative Kohring noted these incentives are especially important in light of the tax increase proposals currently before the Legislature. "Without these credits to offset the effect of the pending tax increases, the result will prove to be a detriment to the future of the oil and gas industry in Alaska."

HB 386 has passed the House Oil & Gas Committee, has been heard in the House Resources Committee, and is expected to move from Resources next week.

# # #

 
Attachments:
 
·
Print Text Version
· Acrobat PDF Version [PDF - 1 page - 84 KB]
· Sponsor Statement
· Complete Bill Text for HB 386


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