Keep Alaska Competitive with Senate version of HB 111
Alaska has reached a crossroads for our economic future and our legislators have a choice to make. What happens in Juneau in the next few weeks could determine whether Alaska is a competitive and viable place to live and work – or whether it suffers a failed economy.
The House and Senate conference committees are expected to begin negotiations this week on the oil tax bill, HB 111. KEEP Alaska Competitive supports the Senate version of the bill because it promotes long-term, sustainable economic growth and encourages stability in our oil and gas industry.
The Senate version of HB 111 accomplishes the stated goal of the Governor, House and Senate: it eliminates cashable oil and gas credits while maintaining incentives for new oil by allowing net operating losses to be deducted against future production. The savings to the State is estimated to be $1.2 billion over the next 10 years.
Here is what the Senate version of HB 111 does:
Here is the list of conference committee members for HB 111:
Please call or write your legislators today and urge them to support the Senate version of HB 111. Not sure how to reach your lawmaker? Click here for the official legislator contact list.
For the latest information about HB 111 and to learn more about how you can help KEEP Alaska Competitive, please visit KeepAlaskaCompetitive.com.