AK SB13

Maintains existing 20 mills annual tax on oil and gas exploration, production, and pipeline transportation property beginning January 1, 1974.

Adds new 10 mills annual tax beginning January 1, 2022, on the same taxable property, in addition to the existing 20 mills tax.

Requires the department to separately account for taxes collected under the new 10 mills rate, with annual estimated balances appropriated as follows: 50 percent to the Alaska capital income fund, 25 percent to reimburse municipalities for property tax revenue losses from exemptions, and 25 percent to the Alaska higher education investment fund.

Clarifies that municipal tax credits against state taxes apply only to the 20 mills tax rate under subsection (a)(1).

Takes effect January 1, 2022.