HB 298 Summary

• Removes the exclusion of sand and gravel mining from the three and one-half year tax exemption for new mining operations in Alaska.

• Excludes marketable earth, quarry rock, sand and gravel, and oil and gas from the definition of "mining" activities subject to the mining license tax.

• Makes sections 1 and 2 of the act retroactive to January 1, 2012.

• Takes effect immediately upon enactment.