Alaska Oil and Gas Association representatives are asking the legislature to carefully consider any changes to the oil and gas tax credit system since they would affect every company involved.
AOGA President Kara Moriarty posted her presentation for the House Resource Committee ahead of the Monday hearing. In it she shows the oil and gas tax credit program has been adjusted five times already in the decade of its existence.
Moriarty also identified areas of concern within the proposed changes by Governor Bill Walker, including an increase in the minimum tax and limits on credits.
House Bill 247, the governor’s proposals for the credits program, is aimed at lowering the costs of the credits for the state.
Legislative consultants say credits that go to companies with no tax liability, which are typically smaller companies developing and exploring on the North Slope and Cook Inlet, reached their highest point in the last fiscal year.
