It became clear that the largest stumbling block is how much and how quickly to scale back tax credits for the oil and gas industry.
North Slope
Legislature confirms Hopkins to AGDC board, Williams as corrections chief
A joint session of both houses voted 31-27 to confirm Hopkins to the Alaska Gasline Development Corporation board.
Oil and gas tax credit debate rages ahead of legislative session end
The debate reveals a deep divide among lawmakers over how to respond to low oil prices – and the resulting state budget gap.
Power Cost Equalization Fund could pay for community assistance
The concept arose from a concern over Senate Bill 210, which would reduce the amount that municipalities receive in revenue sharing.
Caelus Energy announces major cuts, sharply criticizes Walker oil tax bill
North Slope oil producer Caelus Energy announced Friday it will lay off 25 percent of its 80-person workforce and suspend drilling at the Oooguruk oil field, potentially affecting hundreds more contractor jobs.
Senate committee grills Hopkins on AGDC appointment
The Senate Resources Committee questioned whether Hopkins and other board members have the experience needed to make important decisions about the proposed AKLNG pipeline.
House committee’s oil and gas tax credit cut is a fraction of Walker’s
The Department of Revenue estimates the committee’s version of House Bill 247 would save the state roughly $160 million over the next three years. That compares with $1.175 billion in savings under Walker’s proposal.
Walker says he’ll call special session if Legislature doesn’t approve new revenue
The Department of Revenue released a forecast today showing the state will bring in $800 million dollars less in oil revenue this year and next than the department projected in the fall.
House bill would trim oil and gas tax credits, but less than Walker’s plan
The bill would trim the amount of tax credits paid to companies operating in the Cook Inlet.
Lawmakers eye earnings of rural energy endowment to fund state budget
Some lawmakers are questioning whether the fund, now worth $900 million, should be committed to benefit only about one in nine Alaskans.