AK HB59

Repeals the municipal levy of tax on oil and gas exploration, production, and pipeline transportation property effective July 1, 2019.

Eliminates the state tax credit for municipal payments against the state levy on oil and gas property.

Removes references to municipal taxation authority under AS 43.56.010(b) and related assessment appeal rights for municipalities.

Excludes assessed values of property taxable under AS 43.56 from the determination of full and true value of taxable property for school district local contribution calculations for fiscal years 2020 and 2021.

Allows municipalities to levy, collect, and enforce taxes under the prior law for the 2019 annual tax as a transition provision, with the Act taking effect July 1, 2019.