July 21, 2017

The Coalition working for you

Rep. Gabrielle LeDoux

Rep. LeDoux’s July 21st Newsletter: End of cash credits & adjournment

Late Saturday night, the legislature found compromise and passed HB111, ending cash payments to oil companies. This effort will save the state $150-200 million annually for the next 10 years. These cash payments incentivized exploration and production efforts, but paying the companies cash just didn’t make sense as we try to balance the budget and fill this $2.5’ish billion deficit. Instead, the companies can now recover their costs once fields go into production.

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Contact Info:
Graham Judson Press Secretary
(907) 465-5284
120 4th St, Juneau, AK 99801