AK SB267

Reduces delinquent tax interest rate from 5 percentage points above the Federal Reserve District rate to 2 percentage points, with a cap at 11 percent and floor at 12 percent for specific fees and unclaimed property.

Establishes a tax rebate for oil and gas producers that employ resident workers, ranging from 2 percent to 20 percent of taxes paid based on the percentage of labor performed by Alaska residents, requiring at least 80 percent resident labor to qualify.

Requires employers in oil and gas production to maintain detailed records of worker hours, names, addresses, and resident status, with records kept for three years and subject to Department of Labor audits.

Increases oil and gas tax rate thresholds and adjusts the tax calculation structure, changing the production tax value threshold from $92.50 to $155 per BTU equivalent barrel in certain brackets.

Extends the tax assessment period for oil and gas production taxes ending before January 1, 2010 to six years after the return was filed, and adds duties to the Department of Labor to audit resident worker employment information upon request.