AK HB153

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

Adds a new 10 mills tax beginning January 1, 2024, 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 tax, with annual estimated balances appropriated by the legislature as follows: 50 percent to the Alaska capital income fund, 25 percent to the Department of Education and Early Development for early childhood education programs, and 25 percent to the Alaska higher education investment fund.

Clarifies that municipal tax payments credited against state taxes apply only to the existing 20 mills tax under (a)(1), and municipal tax refunds cannot exceed the total state tax levied under (a)(1).

Takes effect January 1, 2024.