HB381 exempts natural gas pipeline property from state and municipal taxes until commercial operations begin.
HB381 amends Alaska Statutes to exempt certain natural gas pipeline property from state and municipal taxes until the property commences commercial operations. The bill defines "qualified property" as major components of a natural gas pipeline project owned or financed by the Alaska Gasline Development Corporation or affiliated entities. The tax exemption applies to real and personal property used for liquefaction and carbon capture infrastructure. The benefits and alternative tax status terminate if commercial operations do not commence by January 1, 2040.
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