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Conference committee on House Bill 1279 debates production tax-credit language and revenue destination
Summary
Members of the conference committee on House Bill 1279 discussed a proposed amendment that would phase in higher taxes on certain energy production over five years and whether revenue should be deposited in the state Legacy Fund or the general fund, Chairman Hedlund said.
Members of the conference committee on House Bill 1279 discussed a proposed amendment that would phase in higher taxes on certain energy production over five years and whether revenue should be deposited in the state Legacy Fund or the general fund, Chairman Hedlund said.
The amendment under discussion would raise the tax on affected production by 10% in year one, 20% in year two, 30% in year three, 40% in year four and 65% in year five, Representative Haggart said. Haggart added that "the percentage of the obligations, they're fixed, but the revenues would would vary." He also said Legislative Council was preparing draft language.
The discussion included a contingency tied to the federal production tax…
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