Alaska legislation · 34th Legislature
Alaska SB112: OIL & GAS PRODUCTION TAX
Status: In committee, February 26, 2025
An Act relating to credits against the oil and gas production tax; and providing for an effective date.
What the bill says
An act ENTITLED "An Act relating to credits against the oil and gas production tax; and providing for an effective date.".
From the introduced text:
AN ACT ENTITLED "An Act relating to credits against the oil and gas production tax; and providing for an effective date." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: * Section 1. AS 43.55.024(i) is amended to read: (i) Subject to the restriction in (k) of this section, a [A] producer may apply against the producer's tax liability for the calendar year under AS 43.55.011(e) a tax credit of $5 for each barrel of oil taxable under AS 43.55.011(e) that receives a reduction in the gross value at the point of production under AS 43.55.160(f) or (g) and that is produced during a calendar year after December 31, 2013. A tax credit authorized by this subsection may not reduce a producer's tax liability for a calendar year under AS 43.55.011(e) below zero. * Sec. 2. AS 43.55.024(j) is amended to read: (j) Subject to the restriction in (k) of this section, a [A] producer may apply against the producer's tax liability for the calendar year under AS 43.55.011(e) a tax SB0112A -1- SB New Text Underlined [DELETED TEXT BRACKETED] 34-LS0566\N credit in the amount specified in this subsection for each barrel of oil taxable under AS 43.55.011(e) that does not receive a reduction in the gross value at the point of production under AS 43.55.160(f) or (g) …
Sponsors
- Rules, Senate (I) · primary sponsor
Latest actions
- : (S) <Bill Hearing Canceled> -- MEETING CANCELED --
- : (S) RESOURCES at 03:30 PM BUTROVICH 205
- : (S) Minutes (SRES)
- : (S) <Bill Hearing Rescheduled to 04/30/25>
- : (S) RESOURCES at 03:30 PM BUTROVICH 205
- : (S) Minutes (SRES)
- : (S) Heard & Held
- : (S) RESOURCES at 03:30 PM BUTROVICH 205
- : (S) Minutes (SRES)
- : (S) Heard & Held
Subjects: PROPERTY, REVENUE, OIL & GAS, CREDIT, TAXATION, RESOURCES, LEASES, LAND
Common questions
- What is SB112?
- SB112 is a bill in the Alaska Legislature (34th Legislature): OIL & GAS PRODUCTION TAX.
- What does SB112 do?
- In its own words: An act ENTITLED "An Act relating to credits against the oil and gas production tax; and providing for an effective date.".
- What is the status of SB112?
- In committee as of February 26, 2025. Latest action: (S) <Bill Hearing Canceled> -- MEETING CANCELED -- (April 30, 2025).
- Who sponsored SB112?
- Rules, Senate (I).
- Where is the official record for SB112?
- On the Alaska Legislature website: https://www.akleg.gov/basis/Bill/Detail/34?Root=SB 112
Source: official Alaska record. Tracked by Delilah, AI for legislation across all 50 states and Congress.