AK HB381

Establishes a new tax framework for Alaska LNG project infrastructure, exempting qualified natural gas pipeline property from standard state and municipal property taxes during construction and a ramp-up period of up to 10 years after commercial operations begin

Creates an alternative volumetric tax of $0.06 per 1,000 cubic feet of natural gas throughput once the ramp-up period ends (when throughput reaches 1 billion cubic feet per day or after 10 years), with the rate increasing by 1% annually

Allocates volumetric tax revenue between municipalities (for pipeline portions within their boundaries) and the state general fund (for portions in the unorganized borough), with the Department of Revenue developing methodology based on original property cost

Excludes "spur lines" delivering gas to local communities from the tax abatement benefits, requiring them to remain subject to standard property taxation under AS 43.56.010

Terminates all special tax benefits on January 1, 2040 if the qualified property has not commenced commercial operations by that date, and takes effect immediately upon passage