This week the Senate Finance Committee met with Governor Bill Walker and discussed the effects oil and gas tax credits.
Legislative consultants encouraged lawmakers to look at how oil and gas production in the Cook Inlet is incentivized since the state may pay out $625 million in credits this year according to Alaska revenue officials.
In the Cook Inlet producers largely pay no oil production taxes and low, fixed rates on gas.
Walker said they will continue to investigate why more credits are being paid out than revenue brought in.
