AK HB183

Amends property tax assessment rules for North Slope natural gas projects, requiring valuation of property exclusively used for such projects on each January 1 starting from construction commencement date.

For North Slope natural gas projects after they begin transporting gas, establishes valuation as original cost adjusted for inflation, reduced by annual depreciation allowance, and subject to a throughput factor based on estimated annual gas throughput divided by original design basis.

Adds definition of "North Slope natural gas project" as a project transporting gas produced north of 68 degrees North latitude through a gas treatment plant, gas pipeline, liquefaction plant, and marine terminal.

Modifies "taxable property" definition to include property exclusively used for North Slope natural gas projects, and clarifies that retail distribution or liquefaction facilities are excluded unless exclusively used for such projects.

Applies to tax years beginning after December 31, 2015.