ak o&g investment sb 21 (more alaska production act) (9.26.2013)
DESCRIPTION
Presentation at Law Seminars International Conference on OIL & GAS PRODUCTION AND MINERAL MINING IN ALASKA (Sept 26-27, 2013)TRANSCRIPT
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SB 21 (More Alaska Production Act)
Oil & Gas Production and Mineral Mining in AlaskaSeptember 26 – 27, 2013
Brad Keithley President, Keithley Consulting, LLC
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Background• Lead up to SB21 • Principles behind the governor's proposal• Key elements • Legislative outcome • But …
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Lead up to SB 21: Previous tax policy uncompetitive
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Lead up to SB 21: Reducedinvestment
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Principles behind the Governor’s Proposal
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Key elements
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Legislative outcome: Reducedtax rates
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Legislative outcome: Increasedcompetitiveness
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Legislative outcome: Increasedproduction and return
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Legislative outcome: Increasedproduction and return
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But …
Article 11 of the Alaska Constitution• Section 1: The people
may … approve or reject acts of the legislature by referendum
• Section 7: An act rejected by referendum is void thirty days after certification.
Referendum election set for August 14, 2014