AK HB142

Creates a rebuttable presumption that the Alaska Gasline Inducement Act project is uneconomic if TransCanada Alaska Company, LLC and Foothills Pipe Lines Ltd. fail to disclose sufficient firm transportation commitments by July 15, 2011.

Requires commissioners to notify the legislature by August 1, 2011 whether firm transportation commitments sufficient to support project construction were disclosed before the July 15, 2011 deadline.

If the presumption is raised, commissioners must submit a report to the legislature by August 15, 2011 that either rebuts the presumption by preponderance of evidence or states insufficient evidence exists to rebut it.

Requires commissioners to provide testimony and evidence with the fiscal year 2013 appropriation request demonstrating the project has adequate credit support for construction and that predicted transportation costs at full capacity would yield a producer rate of return acceptable to prudent oil and gas companies.

Permits commissioners and the licensee to mutually agree that the project is uneconomic or for either party to independently determine the project is uneconomic under AS 43.90.240.