AK HB189

Removes the 2010 ending date from AS 43.55.165(j), allowing the special oil and gas production tax deduction formula to continue indefinitely beyond 2010.

Extends indefinitely the lease expenditure calculation method for producers with leases that cumulatively produced 1 billion BTU equivalent barrels by end of 2006 and averaged over 100,000 BTU equivalent barrels daily production in 2006.

Maintains the 1.37 multiplier for 2007 lease expenditures (based on 2006 expenditures) and the 1.03 annual growth multiplier for subsequent years, applying these factors indefinitely.

Preserves lease expenditure calculations for transferees and producers when lease interests change hands or unit boundaries are modified, using original 2006 baseline figures.

Takes effect immediately upon enactment.