AK SB57

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

Removes assessed value of property taxable under AS 43.56 from calculations of full and true value of taxable property in school districts for local contribution requirements in fiscal years 2020 and 2021.

Eliminates municipal appeal rights in oil and gas property tax assessment proceedings by removing municipalities from AS 43.56.110, 43.56.120, and 43.56.130 appeal processes.

Allows municipalities to continue levying oil and gas taxes under existing law for the 2019 tax year and permits taxpayers to apply for refunds under previous statute for taxes paid after June 30, 2019.

Authorizes the Department of Revenue to adopt retroactive regulations to implement the Act's changes, effective to the date the law takes effect.