Sponsor Statement for HB 307: Oil/Gas Exploration Incentive Credit

Session:
State Capitol, Room 416
Juneau, AK 99801-1182
Toll Free: (866) 465-4976
Phone: (907) 465-4976
Fax: (907) 465-3883

Interim - mail only:
119 N. Cushman, Suite 101
Fairbanks, AK 99701

Interim - office:
3340 Badger Rd., Suite 290
North Pole, AK 99705
Toll Free: (866) 465-4976
Phone: (907) 488-0862
Fax: (907) 488-4271

An Act delaying to June 30, 2007, the last date by which hydrocarbon exploration geophysical work must be performed or drilling of a stratigraphic test well or exploratory well must be completed in order for a person to qualify for an exploration incentive credit.

Last Updated:	January 18, 2002
Contact:	Representative Hugh "Bud" Fate, at (907) 465-4976

House Bill 307 will extend the exploration incentive credit for petroleum for a further three (3) years. This will allow for further exploration into the possibility of natural gas near Nenana.

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· Division of Oil and Gas

· Exploration Incentive Credit

· HB 83 : Natural Gas Resources Development

· HB 190 : Alaska Natural Gas Pipeline Incentive Act

· HB 220 : Oil & Gas Tax Credit for Exploration/Dev

· HB 236 : AIDEA Bonds for Gas Public Utilities

· HB 302 : Alaska Gas Corporation

· HB 307 : Oil/Gas Exploration Incentive Credit

· HB 308 : Oil/Gas Leases; Discovery Royalty Credit

· HB 311 : Oil/Gas Taxes and Leases

· HB 394 : Oil & Gas Royalty Modification

· HB 519 : Natural Gas Pipeline - Special Provisions

· SB 179 : AIDEA Bonds for Gas Public Utilities

· SB 319 : Shallow Natural Gas Leasing

· SB 360 : Alaska Natural Gas Project Act