capital budget

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Rep. Wool Newsletter

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

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: Governor Signs Bill Ending Cashable Tax Subsidies

Juneau – Today, Alaska Governor Bill Walker signed House Bill 111 into law, ending cashable subsidies on the North Slope, and making modest adjustments to Alaska’s oil and gas tax code. HB 111 was sponsored by the House Resources Committee, Co-Chaired by Representative Geran Tarr (D-Anchorage) and Representative Andy Josephson (D-Anchorage).

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House Majority Coalition

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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Rep. Paul Seaton

Rep. Seaton’s July 26th Newsletter: Capital Budget alert

Greetings! Please see the below press release outlining the draft capital budget compromise between the House and Senate. Links are provided to additional documents and a summary. Once appointed, the capital budget conference committee is scheduled to meet in Juneau at 1pm Thursday, July 27 to review and vote on this draft. Should it pass the conference committee, I anticipate the bill will then move to the House and Senate floors the same day.

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Rep. Tuck Newsletter

Rep. Tuck’s July 20th Newsletter: Agreement Reached to End Cash Subsidies to Oil Companies

This past weekend the House and Senate formed a compromise on HB 111 to eliminate cash credits to oil companies. The House passed the bill by a vote of 33-6 and Senate passed it 18-0. After weeks of negotiating, the bill is estimated to save the state about $200 million per year over the next 10 years. With some limitations, companies can instead claim tax deductions after they start producing oil, which makes a lot more sense than handing money over with no way to tell if it is resulting in increased production.

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Phone: 907-465-6791

Address
State Capitol Room 208
Juneau AK, 99801