The plan was introduced by Gov. Sean Parnell, and it comes in response to the closure of the Flint Hills oil refinery. It originally applied to the Petro Star refineries in Valdez and North Pole and the Tesoro refinery in Kenai, but was amended yesterday to include the shuttered Agrium fertilizer plant in Nikiski.
The bill allows each of those facilities to secure an tax credit or payment of $10 million a year if they spend $25 million on tangible assets.
Supporters of the bill argue it’s necessary to keep the refineries running because of the jobs they provide and their importance to the state’s military bases. But some Democrats have characterized the bill as a bailout, and they unsuccessfully tried amending the bill so that the money would be given out as loans instead.
The bill passed today on a 35-5 vote. Anchorage Democrats Les Gara, Harriet Drummond, and Andy Josephson opposed the bill, along with Juneau Democrat Sam Kito III and Eagle River Republican Lora Reinbold. It still needs to be approved by the Senate.
- The co-chairmen of the House Finance Committee revised their plans to introduce an income tax to Alaska for the first time in nearly four decades.
- The Sitka Sound sac roe herring fishery is in full swing. In less than a week, the fleet has caught over half of its quota. And while most crew members work on the water, spotter pilots fish for herring from the sky.
- A lot of eyes were on the U.S. House today, but, as Republican factions shuttled to the White House to negotiate, it was a day of waiting for most.
- Gov. Walker’s legislation creates a new definition for independent contractors that would determine whether employers have to pay to insure against on-the-job injuries.