AK HCR12

Requests the governor and attorney general review and reevaluate the Alaska Gasline Inducement Act (AGIA) license issued to TransCanada Alaska Company, LLC, and Foothills Pipe Lines Ltd. to determine if the proposed project sufficiently maximizes benefits to Alaska and merits continuation of the license.

Requires consideration of economic changes affecting project financing, availability of liquefied natural gas and nonconventional gas sources, the state's risk of paying treble damages (three times qualified expenditures) under AS 43.90.440, and Alaska's expected budget deficit.

Cites concerns that shale gas development in the Lower 48 (Barnett shale with up to 30 trillion cubic feet of gas; Bakken shale with 1.85 trillion cubic feet) and surplus liquefied natural gas receiver ports have undermined the economic viability of a long-distance, large-diameter Alaska pipeline.

Notes that state budget deficits and the licensee's ongoing qualified expenditures increase Alaska's potential liability for treble damages while limiting the state's flexibility to pursue alternative natural gas development projects.

Mandates the governor and attorney general report their findings within 180 days of the resolution's passage.