Industry to testify on oil tax plan

Feb 05, 2013 -- 10:15am

 

- JUNEAU, Alaska (AP) - Oil and gas industry representatives are scheduled to testify on Goverbor Sean Parnell's plan to overhaul Alaska's oil tax structure.
A special Senate committee plans to take testimony on SB21 on Tuesday. Parnell has proposed the change as a way to encourage new production and make Alaska more competitive. His plan would eliminate the progressive surcharge that companies have said is a disincentive to new investment and revamp a suite of tax credits, focusing on companies that produce new oil on the North Slope. Democrats have labeled the plan a giveaway, while the executive director of the Alaska Oil and Gas Association has said it doesn't go far enough.
 
     

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