News from the Alaska State Legislature, the Office of Senator Giessel
For Immediate Release: July 28, 2017

Bill Ending Cash Payments to Oil & Gas Companies Becomes Law

Giessel_stamp.jpgSenator Cathy Giessel
  ~ Send Email
  ~ Web Site

JUNEAU – Today, Gov. Bill Walker signed House Bill 111 into law, legislation that ends the state's program of cash payments to companies in the oil and gas industry. In response, Sen. Cathy Giessel, R-Anchorage, chair of the Senate Resources Committee and co-chair for the Conference Committee on House Bill 111, issued the following statement. 

“The bill signed into law today will affect Alaska families, Alaska businesses and Alaska jobs. The cash credit program over the last ten years brought investment money to our state, gas into our homes and businesses, and optimism thanks to the new discoveries on the North Slope. And the credits brought thousands of jobs for Alaskans. Jobs supporting Alaskan families, jobs supporting Alaskan businesses, and jobs that strengthened our Alaskan towns and villages. We cannot afford the cash credit program anymore, and we have to be honest going forward. However, we owe it to the thousands of Alaskan families and businesses to continue to work toward economic development, family-supporting jobs and prosperity. I want every Alaska-born child to have the opportunity to grow up in this wonderful state, every parent to be able to work and support their family here, and every Alaska business to be prosperous.”

The final version of House Bill 111 was the result of lengthy negotiations between the House and Senate Conference Committee members, and passed the Senate unanimously and the House by a vote of 33-6.

For more information, contact Senate Majority Press Secretary Daniel McDonald at (907) 465-4066.

icon-facebook.png Share Share this on Twitter Tweet

News & Videos more >

Senator Peter Micciche

Bill to Reduce Regulatory Burden on Working Alaskans Becomes Law

ANCHORAGE – A bill to reduce the state’s regulatory burden on barbers, hairdressers, hair braiders and those with student loans was signed into law today by Gov. Bill Walker....  Full Story >>

Senator Pete Kelly

Senate Adjourns Sine Die

JUNEAU – The Alaska Senate today adjourned the second session of the 30th Alaska Legislature, sine die.  Full Story >>

Senator Pete Kelly

Legislature Restores Private Property Rights in Dalton Highway Corrido

JUNEAU – The Alaska Legislature today passed a bill to restore access rights to private homesteaded property owners in the James Dalton Highway corridor.  Full Story >>

Senator Anna MacKinnon

Legislature Votes to Reform School Curriculum

JUNEAU – The Alaska Legislature today passed legislation providing students across Alaska access to the best curriculum in the world.  Full Story >>

Senator Pete Kelly

Legislature Helps Deliver Natural Gas to Interior

JUNEAU – The Alaska Legislature today took another step toward clean and affordable natural gas in Fairbanks and North Pole with the passage of legislation extending the bonding...  Full Story >>

Senator Lyman Hoffman

Legislature Approves State Operating Budget

JUNEAU – The Alaska Legislature today concurred with the final version of the state operating budget for Fiscal Year 2019, totaling $3.1 billion in unrestricted general funds (UGF) for...  Full Story >>

Senator Cathy Giessel

Senate Approves Program to Pay Outstanding Tax Credit Debt

JUNEAU – The Alaska Senate today approved a program to resolve nearly $1 billion owed to small oil and gas companies and reinvigorate work in the state’s oil patch....  Full Story >>

Senator Peter Micciche

Legislature Provides School Districts with Tool to Fill Vacancies

JUNEAU – The Alaska Legislature this week passed a bill allowing school districts to temporarily fill vacancies with qualified retired teachers.  Full Story >>

Senator Peter Micciche

Legislature Supports Better Policy for Alaskans with Disabilities

JUNEAU – The Alaska Legislature this week provided Alaskans with disabilities greater flexibility to receive those services best suited for their needs instead of standard service...  Full Story >>

Senator Kevin Meyer

Senate Passes Crime Package, Votes to End 'Catch and Release'

The Alaska Senate today passed a wide-ranging crime package that provides judges and law enforcement with the tools they need to effectively fight crime.  Full Story >>

Find your Senator full map