A Citizen’s Guide

The Senate special committee has approved a proposal by Sen. Tom Wagoner that would stop oil companies from deducting or receiving credits on a certain amount of capital expenditures. This idea was in response to the Prudhoe Bay shutdown, which has got everyone wondering about how much the state might potentially be paying toward the repairs.

In another vote, the committee turned down proposals to remove tax credits for development of the Point Thomson unit and upstream gas infrastructure and to push back the tax’s effective date. It also turned down a proposal by Sen. Gene Therriault to stop the state from subsidizing capital and operating costs associated with improper maintenance of infrastructure.

At about 4:10 p.m., the committee passed the bill out of committee. The Senate will meet as a body at 7:30 p.m. to review the revised bill. The plan is for the bill to move out late tonight. If not, the Senate is expected to take it up early Thursday and ship it to the House. The session adjourns at midnight that day.