Oil Tax on Top This Week in the Legislature

Legislators are looking ahead to a week dominated by oil and gas.  This comes as the Senate takes its first look at a tax reform bill members believe will take the place of the bill the governor introduced last year.

The Senate Resources Committee on Friday held the first hearing on a new oil tax bill – getting information from Revenue Commissioner Brian Butcher that compares the amount of oil produced on the North Slope to the state’s tax regime.   The committee will continue with the tax measure through the week – with major oil company representatives scheduled on Wednesday to present their plans for development.    Meanwhile the Finance Committee has scheduled a two-day seminar with Petroleum Consultant Pedro van Meurs.  Recognized internationally,  van Meurs has consulted on tax reforms with the Knowles and Murkowski administrations.

In other matters,   House finance subcommittees will continue to work on the budgets for the executive branch.  Also,  consideration opens for a bill expanding the Power Cost Equalization program.   Also members will hear a bill tightening requirements for out-of-state residents to get Permanent Fund Dividends, and another re-establishing a state immunization program – similar to what was in place in 2009.