Fiscal note details impact of oil tax plan

Mar 13, 2013 -- 10:20am

 

- JUNEAU, Alaska (AP) - A fiscal note shows the latest version of the oil tax overhaul would cost the state between $1 billion and about $1.3 billion next year. That's based on the Department of Revenue's fall forecast for oil prices and production. The forecast predicts a continued net decline in North Slope production through 2022 and prices ranging between $109- and $118 a barrel through 2019. The analysis shows a negative fiscal impact, a mix of the measure's effect on revenue and the operating budget, of between $1.4 billion and nearly $1.8 billion by 2017. This is higher than the potential impact under approaches proposed by Gov. Sean Parnell and the Senate Resources Committee. Senate Finance unveiled its version of the bill Tuesday. It will hear other fiscal scenarios, assuming new production, Wednesday.
 

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