ak o&g investment sb 21 (more alaska production act) (9.26.2013)
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SB 21 (More Alaska Production Act)
Oil & Gas Production and Mineral Mining in AlaskaSeptember 26 – 27, 2013
Brad Keithley President, Keithley Consulting, LLC
Background• Lead up to SB21 • Principles behind the governor's proposal• Key elements • Legislative outcome • But …
Lead up to SB 21: Previous tax policy uncompetitive
Lead up to SB 21: Reducedinvestment
Principles behind the Governor’s Proposal
Key elements
Legislative outcome: Reducedtax rates
Legislative outcome: Increasedcompetitiveness
Legislative outcome: Increasedproduction and return
Legislative outcome: Increasedproduction and return
But …
Article 11 of the Alaska Constitution• Section 1: The people
may … approve or reject acts of the legislature by referendum
• Section 7: An act rejected by referendum is void thirty days after certification.
Referendum election set for August 14, 2014
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