JUNEAU – House Bill 331 cleared a legislative hurdle on Thursday, passing the House of Representatives, with bipartisan support. The measure must still be approved by the Senate. The measure was introduced by Governor Bill Walker and enables issuance of bonds to pay small oil and gas exploration companies the tax credits they were promised […]
A new report from the Alaska Department of Revenue shows a substantial negative effect on the finances of the State of Alaska from large oil and gas tax credits. The report concludes that North Slope oil and gas production tax credits may be an inferior investment for Alaska compared to investing in the Constitutional Budget […]
ANCHORAGE – Today, the Alaska Independent Democratic Coalition released a memo from the Alaska Department of Revenue showing the Republican-proposed budget spends $600 million more on oil tax credits than provided for under Alaska’s statutory cap on credit payments. The memo states in part that “as part of ACES, the Legislature added language to indicate […]