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AK SB212
Bill
AI Summary
- Establishes a 20 mills annual tax on oil and gas exploration, production, and pipeline transportation property beginning January 1, 1974
- Adds an additional 10 mills annual tax on the same property beginning January 1, 2020, for a combined tax rate of 30 mills
- Allows taxpayers to credit municipal taxes paid by June 30 of the tax year against the state tax levied under the 20 mills provision
- Permits the department to refund municipal taxes paid after June 30, provided the refund does not exceed the total state tax owed under the 20 mills provision
- Takes effect January 1, 2021
Legislative Description
Oil And Gas Property Tax
Oil & Gas
Last Action
REFERRED TO RESOURCES
2/21/2020
Committee Referrals
Resources2/21/2020
Full Bill Text
No bill text available