Alaska House Majority says state needs a fair oil tax reform to fund future financial needs

At a press conference in Juneau on Thursday, members of the Alaska House of Representatives Majority Coalition said the record needed to be set straight on some of the issues being discussed.

House Bill 111, the oil and gas tax bill, is the only item on the current call of the legislative special session.

Representative Chris Tuck said creating fair oil tax reform is the top priority of the coalition, and that it's vital to any comprehensive fiscal plan.

House Resources Committee Co-chair Representative Geran Tarr (D, Anchorage) co-sponsored House Bill 111.
She said she was surprised by the Senate's action last week, and didn't think their idea of a midyear tax change was possible.

"I'm not sure if it was just a political gimmick, or a serious proposal but we are concerned and not certain that's something we could go forward with. The differences between our two bills totals 800 million dollars over the next ten years and there could be years with no production revenue. It's a critical piece of any fiscal plan going forward and understanding whether we'll have any oil revenue or production tax revenue to meet our financial needs."