Most Alaskans who offered public testimony Wednesday on a proposed overhaul of the state’s oil and gas taxes and tax credits opposed the measure. House Bill 111 would also increase minimum production taxes.
As lawmakers in Juneau consider changes to the state’s oil tax credit system, they’re facing stiff opposition from oil companies. Several industry representatives testified before lawmakers this week. Those representatives are calling the changes proposed in House Bill 111 a tax increase. And they also say it could affect their investment decisions.