Rep. Wool’s July 28th Newsletter: Legislature Finally Passes Capital Budget

Rep. Wool Newsletter

Yesterday, July 27, the Legislature finally passed SB 23, the capital budget, which funds infrastructure projects across the state. I joined the majority of my House colleagues, who voted in favor 27 to 13. The Senate vote was 15-4.​ I’m glad the Legislature passed this bill before August 1, after which the Governor said projects could be delayed. This capital budget will create some much needed jobs in the Fairbanks area and around the state.

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NEWS: Alaska Legislature Passes Responsible Capital Budget Compromise

Juneau – Today, the Alaska Legislature overwhelmingly passed a capital budget for Fiscal Year 2018 that will result in approximately $1.2 billion in federal funds coming to Alaska. The approved capital budget was a negotiated compromise that ensures continued funding for Alaska’s roads, bridges, and other vital infrastructure. House Finance Committee Co-chair Rep. Neal Foster (D-Nome) helped negotiate the compromise and worked to ensure passage today.

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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: HB 111 Conference Committee Meeting Scheduled for Wednesday Afternoon in Anchorage

Anchorage – Representative Geran Tarr (D-Anchorage), Chair of the House Bill 111 Conference Committee, is calling the committee together for a meeting in Anchorage Wednesday at 3:00 p.m. to discuss a proposed compromise to end the unaffordable practice of paying oil companies on the North Slope cash for tax credits. The HB 111 Conference Committee is tasked with working out the differences between the competing versions of the bill passed by the Alaska House of Representatives and the Alaska State Senate.

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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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NEWS: House Moves Toward REAL ID Act Compliance

Rep. Adam Wool

Juneau – Tonight, the Alaska House of Representatives passed House Bill 74 to give the Alaska Department of Administration authority to adopt regulations to comply with the Federal REAL ID Act. The bill was sponsored by the House Rules committee at the request of Governor Walker, and carried on the House floor by Representative Adam Wool (D-Fairbanks).

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NEWS: Energy Efficiency Legislation Approved By the Alaska Legislature

Rep. Adam Wool

Juneau – The Alaska State Legislature has passed legislation sponsored by Representative Adam Wool (D-Fairbanks) to help lower energy costs for commercial property owners across Alaska. House Bill 80 allows cities and boroughs to create a Property Assessed Clean Energy (PACE) financing mechanism for loans for alternative energy and energy efficiency improvements.

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