Juneau -- The Alaska House of Representatives Monday passed House Bill 290, sponsored by the House Resources Committee. HB 290 addresses regulatory aspects of the development of a North Slope natural gas pipeline system.

HB 290 makes amendments to State statutes and clarifies definitions of, regulatory authority over, and criteria needed for, a North Slope natural gas pipeline system. Passage of HB 290 will be the second step in the Legislature's efforts to encourage and facilitate the development of Alaska's North Slope natural gas reserves. The process began in 1998 with the passage of the "Stranded Gas Act," which authorized the State to restructure certain taxes and royalty requirements to facilitate the development of otherwise non-economic gas reserves.

"HB 290 is important to all Alaskans because it moves toward timely development of our natural resources," said Representative Beverly Masek, Co-Chair of the House Resources Committee. "The creation of jobs and economic opportunity by one or more North Slope natural gas pipeline systems is crucial for our economy."

HB 290 passed the House unanimously.

Attachments:

• Sponsor Statement
• Sectional Analysis

Broadcasters note: Audio comments are available on the Majority Actuality line, 1-800-478-6540
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