In my latest State Tax Notes column, I provide an update on H.B. 331, which was passed by the State Legislature in 2018 to create a mechanism to finance the purchase of some $700 million in outstanding rebatable tax credits. I also look at continuing budget tensions in the state, efforts to reduce and simplify
Update on Alaska’s Efforts to Finance Oil and Gas Tax Credit Purchases
In my most recent column for State Tax Notes, I provide an update on H.B. 331, which was passed by the State Legislature in 2018 to create a mechanism for the issuance of up to $1 billion in bonds to finance oil and gas tax credit purchases. I also look at budget tensions created
Rental Rate Increases Go into Effect for State of Alaska Mining Claims, Leasehold Locations, Prospecting Sites, and Mining Leases
New rental rates are now in effect for state mining claims, leasehold locations, prospecting sites, and mining leases in Alaska. The new rental rates became effective on August 30, 2019, and thus are applicable to the rental year that commenced on September 1, 2019.
These increases were made by the State of Alaska Department of
How Will Alaska Pay its Rebatable Production Tax Credits?
Alaska’s rebatable production tax credit program was created by state legislators to be an incentive for explorers and small producers to invest in oil and gas exploration and production in the state but was hurt by its own success when oil prices dropped. The legislature repealed the program but a queue of valid outstanding credits
The Battle Over the Alaska Oil and Gas Production Tax Credit
Alaska’s oil and gas production tax has been subject to continuing debate and change as lawmakers and policymakers struggle with balancing budgets in times of volatile oil prices while also encouraging the investment necessary to monetize the state’s resources to run its government, create jobs, build and maintain infrastructure, and promote economic activity. In my
Alaska Department of Natural Resources Seeks Input on Mining Regulations – Comments Due 4/29/16
The Alaska DNR is requesting public comments on its mining regulations for establishing and maintaining mining claims – 11 AAC Chapter 86. These regulations (as well as related regulations at 11 AAC 82 and 11 AAC 88) establish or address many of the requirements for locating claims on state lands, performing assessment work, paying rent,
Alaska Voters Reject Referendum Regarding Oil and Gas Production Taxes
Last Tuesday, Alaska voters rejected a referendum proposal that would have repealed oil and gas production tax legislation signed into law by Governor Sean Parnell in May 2013, known the “More Alaska Production” Act.
Continue Reading Alaska Voters Reject Referendum Regarding Oil and Gas Production Taxes