NEWS: Compromise Achieved to Reform Alaska’s Unsustainable Oil Tax Credit System
Juneau – Tonight, the Alaska Legislature passed a compromise version of legislation to reform Alaska’s system of subsidizing the oil industry on the North Slope with tax credits. House Bill 111 ends Alaska’s unique cash for tax credits system and strengthens the four percent minimum tax to ensure Alaska receives some production tax revenue in times of low oil prices. Tonight’s compromise was brokered by House Resources Committee Co-chair Representative Geran Tarr (D-Anchorage), who served as the Chair of the HB 111 Conference Committee.
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NEWS: Resources Committee Co-chairs will Lead Effort to Reform Unsustainable Oil Industry Subsidies
Juneau – On Monday, Speaker of the House Rep. Bryce Edgmon (D-Dillingham) appointed House members to negotiate a compromise on legislation to reform Alaska’s unsustainable oil tax credit system that passed both the House and Senate. House Resources Committee Co-chairs Rep. Geran Tarr (D-Anchorage) and Rep. Andy Josephson (D-Anchorage) will represent the House Majority on the conference committee. The House Minority will be represented by Rep. Dave Talerico (R-Healy). The State Senate is expected to appoint their members to the conference committee on Wednesday.
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