NEWS: Flaws in Alaska’s Oil Tax Regime are Bigger Than Paying Cash for Tax Credits

Juneau – Earlier today, the leadership of the Alaska Senate Majority reversed course and called for action during the Second Special Session on legislation to fix Alaska’s flawed system of subsidizing the oil and gas industry on the North Slope through overly-generous tax credits. The Alaska House Majority Coalition welcomes a renewed focus on this important issue.

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Rep. Tarr’s June 29th Newsletter: Operating Budget and What’s Next

Just after I wrote last week’s enews, late last Thursday evening, with just a week before the government would have shutdown, the legislature reached a compromise on the operating budget. While this relieves the immediate pressure of a looming shutdown, measures to enact a fiscal plan were not passed so we have not completed our work for this year.

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Rep. Tarr’s June 22nd Newsletter: Compromise: What’s acceptable to you?

I hope you enjoyed Summer Solstice! We are in the second special session now, having not passed an operating budget during the first special session. Without a budget, state government shuts down on July 1. To me, this is an unacceptable outcome and I am pushing for a compromise.

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NEWS: House Moves to Prevent Government Shutdown with Passage of Combined Operating and Capital Budgets

Juneau – Tonight, to avoid a government shutdown at the beginning of the month, the Alaska House of Representatives passed a combined Capital and Operating Budget for Fiscal Year 2018. The House budgets reverse the Senate’s $69 million cut to K-12 education and most of the cut to the University of Alaska. Additionally, the Capital Budget restored the full amount of expected Permanent Fund Dividends, which will be paid in the fall to eligible Alaskans.

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NEWS: Change the Name, Pay the Same: Senate Oil Bill Replaces $1.5 Billion in Cash Credits with $1.45 Billion in Lost Revenues

Juneau – Recent analysis from the Alaska Department of Revenue shows a stark contrast between the competing versions of legislation to reform Alaska’s unsustainable system of subsidizing the oil industry on the North Slope with unaffordable tax credits. The version of House Bill 111 supported by the Alaska Senate Majority follows the lead of the Alaska House Majority Coalition in ending the practice of paying oil companies cash for tax credits, but on paper only. This is expected to save the State of Alaska an estimated $1.5 billion over the next ten years. However, the Senate version of the bill would result in the loss of $1.45 billion in revenue over that same timeframe by replacing the cash for credit system with a higher percentage of “carry forward” deductions that oil companies could subtract from production and other taxes they pay to the State of Alaska.

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NEWS: Resources Committee Co-Chairs Call for Continued Work on Climate Change in Alaska

Juneau – Thursday’s decision by President Donald Trump to withdraw the United States from the landmark Paris Agreement to combat global climate change has drawn a sharp rebuke from the two Co-chairs of the Resources Committee in the Alaska House of Representatives.

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NEWS: Coalition Praises Interior Department Order that Could Result in Increased Oil Exploration on the North Slope

Juneau – Alaska House of Representatives Resources Committee co-Chair Geran Tarr (D-Anchorage) released the following statement in response to today’s announcement regarding possible increased oil and gas exploration on Alaska’s North Slope. U.S. Department of the Interior Secretary Ryan Zinke signed an order calling for an updated resource assessment for the 1002 area of the Arctic National Wildlife Refuge (ANWR) and a revised Integrated Activity Plan for the National Petroleum Reserve-Alaska (NPR-A)

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