Walker signs bill to close out oil tax credit debt

Gov. Bill Walker was in Fairbanks Wednesday to sign a piece of legislation that would close out the remaining debt the state incurred under the old oil tax-credit program.

In an event at the Laborers Local 9-4-2 hall, Walker signed House Bill 331, which allows the state to issue a billion dollars in bonds to pay the final debts owed to oil and gas companies that was carried over from the old system.

“We expect to see new jobs and increased exploration activity as a result of this legislation,” Walker said.

The Fairbanks Daily News-Miner reports Walker also signed House Bill 176. The measure allows emergency medical-services providers to recover more of the cost of transporting Medicaid patients than was previously allowed. Medicaid was reimbursing the providers only about 30 percent of their costs for transporting its patients.

HB 176 was introduced by Fairbanks Representative Adam Wool.