Alaska HB381 modifies oil and gas property tax regulations, exempts certain natural gas pipeline property from taxation, and establishes an.

Alaska HB381 amends tax laws to exempt certain natural gas pipeline property from state and municipal taxes during a ramp-up period. It establishes an alternative volumetric tax on natural gas throughput, replacing other taxes on qualified property. The volumetric tax applies to natural gas measured at outlets or offtake points, excluding fuel for pipeline compression. The tax rate is $0.06 per 1,000 cubic feet, increasing by one percent annually. The volumetric tax terminates after 10 years or when the property achieves a daily throughput of 1 billion cubic feet.

Alaska HB381 modifies oil and gas property tax regulations, exempts certain natural gas pipeline property from taxation, and establishes an.

Alaska HB381 amends tax laws to exempt certain natural gas pipeline property from state and municipal taxes during a ramp-up period. It establishes an alternative volumetric tax on natural gas throughput, replacing other taxes on qualified property. The volumetric tax applies to natural gas measured at outlets or offtake points, excluding fuel for pipeline compression. The tax rate is $0.06 per 1,000 cubic feet, increasing by one percent annually. The volumetric tax terminates after 10 years or when the property achieves a daily throughput of 1 billion cubic feet.