AK HB398

Requires the Department of Natural Resources to identify and evaluate incentives under current law to increase oil and gas exploration, development, and production in Alaska.

Requires the department to identify and evaluate additional incentives that the legislature could enact to increase oil and gas exploration, development, and production.

Requires the department to determine the cost, feasibility, and organizational structure needed to conduct geological fieldwork and gather seismic data on lands with the greatest potential for oil and gas exploration.

Requires the department to offer subscriptions to collected geological and seismic information with a two-year confidentiality period, extendable to four years if the subscriber obtains an exploration license for the surveyed land.

Requires the Department of Natural Resources to report its findings, conclusions, and recommendations to the legislature before November 1, 2010.