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Session: State Capitol, Room 128 Juneau, AK 99801-1182 Phone: (907) 465-2679 Fax: (907) 465-4822 Send E-Mail Interim: 600 E. Railroad Ave., Suite 1 Wasilla, AK 99654 Phone: (907) 376-2679 Fax: (907) 373-4745 |
Measure Amends Statutes to Enable Projects to Proceed
For Immediate Release: February 17, 2000
Contact: Representative Beverly Masek at (907) 465-3715.
Juneau -- The House Special Committee on Oil and Gas Thursday moved out House Bill 290, sponsored by the House Resources Committee. HB 290 addresses regulatory aspects of the development of natural gas reserves on Alaska's North Slope.
HB 290 makes amendments to State statutes and clarifies definitions of, regulatory authority over, and criteria needed for, North Slope gas projects to proceed. Passage of HB 290 will be the second step in the development of North Slope gas projects. The process began in 1998 with the passage of the "Stranded Gas Act," which authorized the State to restructure certain taxes and royalty requirements to facilitate the development of otherwise non-economic gas reserves.
"I reaffirm my support for the proposed legislation and stress the importance of its timely passage," said Representative Beverly Masek, Co-Chair of the House Resources Committee. "HB 290 is important to all Alaskans because it moves toward timely development of our natural resources. The creation of jobs and economic opportunity by one or more North Slope natural gas projects is crucial for our economy."
HB 290 now moves to the House Resources Committee.