SB 96 - Protecting Jobs, Education, and Opportunity Act

• Modifies minimum oil and gas production tax rates for leases north of 68 degrees North latitude based on average Alaska North Slope crude oil prices, with rates ranging from 0-4% depending on price thresholds between $15-$25 per barrel.

• Establishes a new 12.5% minimum tax floor for oil from mature reservoirs (400+ million cumulative barrels produced, averaging 20,000+ barrels daily production).

• Adds new tax credits of $4-$8 per barrel for oil from units with first commercial production within 20 years of establishment, with credit amounts scaled to oil price tiers.

• Reduces the gross value production deduction from 20% to 10% for newly developed oil and gas leases north of 68 degrees North latitude during their first four production years.

• Applies retroactively to January 1, 2015, with transition provisions requiring unpaid tax balances to be paid by September 1, 2015.