AK HB17

Reduces the base oil and gas production tax rate from 25 percent to 20 percent of annual production tax value.

Establishes a tiered progressive tax system with rates ranging from 4.3 percent to 30 percent based on monthly production tax value per BTU equivalent barrel, with thresholds at $30, $51.67, $73.34, $95.01, $116.68, $138.35, and $160.

Reduces the tax credit for carried-forward annual losses from 25 percent to 20 percent.

Makes corresponding rate changes to landowner royalty interest tax from 25 percent to 20 percent and updates installment payment calculations.

Applies retroactively to January 1, 2011, with persons owing unpaid taxes required to pay the balance before April 1, 2012.