On a visit to the Flint Hills refinery in North Pole on Tuesday, Governor Parnell signed Senate Bill 86. That Senate Bill extends the state's contract with the refinery.

“Extending the State’s contract with Flint Hills Refinery is good for the Interior and good for Alaska,” Governor Parnell said. “Many industries across Alaska rely on the fuels that Flint Hills produces, and the extension of this contract will keep Alaska’s economy growing.”

The bill extending the royalty oil contract with Flint Hills will do so for an additional five years. The new ending date is now March 31, 2019. The bill allows the state to sell 18,000 to 30,000 barrels of its royalty oil to Flint Hills daily.

While in North Pole, the governor also signed Senate Bill 85, that bill sponsored by Senator John Coghill will update and modernize Alaska’s trust and estate laws. The updated trust and estate lawws will now conform the the current federal laws.

According to the governor this will ensure that Alaska remains a premier place for establishing estates and trusts.