House panel passes out energy tax bill

Posted: Wednesday, April 14, 2010

JUNEAU - A House committee has moved out its version of a bill changing Alaska's system of taxing oil and gas production together.

This followed at-times tense meetings, some of which went late into the night and left some in the room more confused than when the hearings began.

The bill moves from the Resources Committee to Finance, its last stop before the floor. The Senate passed its own version earlier.

Those backing a change want to guard against what they say could be the loss of billions of dollars in revenue, once gas flows through a proposed major pipeline. This is due to a potential "dilution effect" under the current regime, when oil prices are high relative to gas.

Others aren't convinced action is needed now.

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