Alaskan Democrats Propose Oil Tax Reform

FAIRBANKS- Democratic legislators want voters to repeal the oil tax law, SB 21, saying it's a giveaway to oil companies and Sen. Hollis French, Rep. Les Gara, and Sen. Bill Wielechowski  offered an alternative. If SB 21 is repealed, they propose creating more public– private partnerships to help independent producers develop new oil fields. They say, the Alaska Industrial Development and Export Authority could invest in oil and gas projects, ensuring  they are in the state’s interest. New provisions would force companies to develop the land they lease, rather than staying idle. If voters repeal SB 21 in August, the oil tax laws will revert to the previous structure, which the democrats say can be improved.