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March 24, 2017
Oil and Gas Tax Public Testimony Tomorrow
I wanted to give you a quick heads up that there will be an important opportunity this weekend to testify on legislation relating to oil taxes.
Last week, HB 111 moved from the House Resources Committee. The bill ends the tax incentives that had the state potentially paying hundreds of millions in cash for tax credits related to costs accrued by oil and gas companies. We simply can no longer afford to provide these subsidies at current oil prices.
In the future, companies would be allowed to deduct a percentage of their costs from their tax obligation once they have taxable production.
This would bring Alaska more in line with other oil and gas fiscal systems worldwide. HB 111 also would require that more information related to oil and gas activities be made public so we have a better understanding of how our oil resource is being developed.
The House Finance Committee is hearing HB 111 this weekend. Public testimony is scheduled for Saturday, March 25, starting at 10:00 a.m. Testimony is limited to two minutes.
Oil and Gas Tax Public Testimony
Saturday, March 25
Time Limit 2 Minutes
Please arrive 15 min. early for sign-in process
Please arrive 30 min. prior to end of allotted time or testimony will close early
If you are in a location without a Legislative Information Office, please call 465-4648 for the call in number
Written testimony may be sent to:
As always, I’m here for you, so please keep in touch on matters important to you and your family!
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