The Department of Revenue estimates the committee’s version of House Bill 247 would save the state roughly $160 million over the next three years. That compares with $1.175 billion in savings under Walker’s proposal.
North Slope
Walker says he’ll call special session if Legislature doesn’t approve new revenue
The Department of Revenue released a forecast today showing the state will bring in $800 million dollars less in oil revenue this year and next than the department projected in the fall.
House bill would trim oil and gas tax credits, but less than Walker’s plan
The bill would trim the amount of tax credits paid to companies operating in the Cook Inlet.
Lawmakers eye earnings of rural energy endowment to fund state budget
Some lawmakers are questioning whether the fund, now worth $900 million, should be committed to benefit only about one in nine Alaskans.
Energy industry leaders reject oil and gas tax hikes
Alaska Oil and Gas Association President Kara Moriarty told the House Resources Committee that companies can’t afford higher costs when oil prices are low.
State trims $7 million from gas pipeline budget
Deputy Natural Resources Commissioner Marty Rutherford told the House Finance Committee the change reflects slow negotiations with the state’s three pipeline partners, as well as the low price of gas.