Alaska 30th Legislature (2017-2018) Status: Enacted

HB 331 — An Act establishing the Alaska Tax Credit Certificate Bond Corporation; relating to the issuance of bonds by the Alaska Tax Credit Certificate Bond Corporation; relating to purchases of tax credit certificates and refunds and payments of tax credits; relating to the oil and gas tax credit fund; relating to overriding royalty interest agreements; providing for an effective date by repealing the effective date of secs. 2, 5, 8, 10, 31, 37, and 40, ch. 3, SSSLA 2017; and providing for an effective date.

Last action — EFFECTIVE DATE(S) OF LAW 6/21/18

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 07, 2018. Enacted.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 54% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Mixed recorded votes

    2 passed, 1 failed in recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

8 added · 8 removed

Plain-language change summary

The changes made to Bill HB 331 establish the Alaska Tax Credit Certificate Bond Corporation, allowing the state to issue bonds related to tax credit certificates and grants flexibility in managing oil and gas tax credits. The bill includes new sections that outline how the corporation can negotiate purchases and refunds, ensuring accountability and setting conditions for applicants seeking these financial benefits. This matters because it could enhance the state's ability to manage its financial resources more efficiently, potentially attracting investment in Alaska's oil and gas sector while also ensuring that public funds are used responsibly.

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Alaska State Legislature The Alaska State Legislature menu Home Senate Current Members Past Members By Session Alphabetical House Current Members Past Members By Session Alphabetical Bills & Laws Bills All Introduced Actions by Date Awaiting Actions Bills sent to Conf Committee Bills in Committee Governor's Vetoes Passed Legislation Prefile Bill Summary Requestor Summary Statistics Sponsor Summary Subject Summary Laws Constitution Constitutional Convention Files Statutes Executive Orders - Current Executive Orders - Historical Administrative Code Journals Session Laws & Resolves Session Laws & Resolves 2017 Session Laws & Resolves 2018 - Previous Year Session Law - Previous Year Legislative Resolves Tools Statute Information Retrieval System Bill Tracking Management Facility Past Legislatures (Archives) Committees Hearing Schedule Standing Committees Finance Committees Special Committees Joint Committees Conference Committees Other Committees Minutes Publications Get Started Information Offices Legislative Affairs Legislative Agencies Links Legislative Branch Executive Branch Judicial Branch Alaska Delegation Home Bill & Laws Bills Enrolled HB 331 Detail FullText txt Enrolled HB 331:
"An Act establishing the Alaska Tax Credit Certificate Bond Corporation;
Establishing the Alaska Tax Credit Certificate Bond Corporation;
and providing for an effective date." CS FOR HOUSE BILL NO.
and providing for an effective date.
331(FIN) 01 "An Act establishing the Alaska Tax Credit Certificate Bond Corporation;
00Enrolled HB 331 01 Establishing the Alaska Tax Credit Certificate Bond Corporation;
relating to 02 the issuance of bonds by the Alaska Tax Credit Certificate Bond Corporation;
relating to the issuance of 02 bonds by the Alaska Tax Credit Certificate Bond Corporation;
relating 03 to purchases of tax credit certificates and refunds and payments of tax credits;
relating to purchases of tax 03 credit certificates and refunds and payments of tax credits;
relating 04 to the oil and gas tax credit fund;
relating to the oil and gas tax credit 04 fund;
05 providing for an effective date by repealing the effective date of secs.
providing for an effective date by 05 repealing the effective date of secs.
2, 5, 8, 10, 31, 37, 06 and 40, ch.
2, 5, 8, 10, 31, 37, and 40, ch.
and providing for an effective date." 07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
and 06 providing for an effective date.
08 * Section 1.
07 _______________ 08 * Section 1.
A notice of interest for a purchase, refund, or payment from money 17 disbursed to the commissioner must include all of the requests for purchases, refunds, 18 or payments made by the applicant or claimant and, if applicable, a statement 19 indicating whether the applicant intends to meet a condition in (m)(1) - (3) of this 20 section.
A notice of interest for a purchase, refund, or payment from money 17 disbursed to the commissioner must include all of the requests for purchases, refunds, 18 or payments made by the applicant or claimant and, if applicable, a statement 19 indicating whether the applicant intends to meet a condition in (m)(1), (2), or (3) of 20 this section.
An applicant or claimant may not include in a notice of interest a request for 21 purchase, refund, or payment from the fund if the request could have been included in 22 a previous notice of interest under this subsection.
An applicant or claimant may not include in a notice of interest a request 21 for purchase, refund, or payment from the fund if the request could have been included 22 in a previous notice of interest under this subsection.
The department shall make an offer 23 of purchase, refund, or payment with money disbursed to the commissioner to an 24 applicant or claimant that provides the department with a timely notice of interest.
The department shall make an 23 offer of purchase, refund, or payment with money disbursed to the commissioner to an 24 applicant or claimant that provides the department with a timely notice of interest.
A transferable tax credit certificate 31 issued under AS 43.55.023, production tax credit certificate issued under AS 43.55.025, or claim for refunds or payments under AS 43.20.046, 43.20.047, or 02 43.20.053 is not eligible for purchase by the department with money disbursed to the 03 commissioner if the applicant or claimant 04 (1) fails to provide the department with a notice of interest of an offer 05 of purchase, refund, or payment from money disbursed to the commissioner by the 06 date determined by the commissioner under this subsection;
A transferable tax credit certificate 31 issued under AS 43.55.023, production tax credit certificate issued under AS 43.55.025, or claim for a refund or payment under AS 43.20.046, 43.20.047, or 02 43.20.053 is not eligible for purchase by the department with money disbursed to the 03 commissioner if the applicant or claimant 04 (1) fails to provide the department with a notice of interest of an offer 05 of purchase, refund, or payment from money disbursed to the commissioner by the 06 date determined by the commissioner under this subsection;
An applicant's agreement to a discount rate under (1) - (3) 03 of this subsection is only consideration for the amount that the purchase exceeds the 04 amount that would have been purchased in the absence of the agreement.
An applicant's agreement to a discount rate under (1), (2), 03 or (3) of this subsection is only consideration for the amount that the purchase exceeds 04 the amount that would have been purchased in the absence of the agreement.
For a refund 05 or claim for payment under AS 43.20.046, 43.20.047, or 43.20.053, the discount rate 06 is the true interest cost plus 1.5 percent, but may not exceed 10 percent.
For a 05 refund or claim for payment under AS 43.20.046, 43.20.047, or 43.20.053, the 06 discount rate is the true interest cost plus 1.5 percent, but may not exceed 10 percent.
For a purchase 07 of a transferable tax credit certificate issued under AS 43.55.023 or a production tax 08 credit certificate issued under AS 43.55.025, the discount rate is the true interest cost 09 plus 1.5 percent, but may not exceed 10 percent, in total, 10 (1) for either a transferable tax credit certificate issued under 11 AS 43.55.023 for which the applicant submitted data required under 12 AS 43.55.025(f)(2) or a production tax credit certificate issued under AS 43.55.025, if 13 the applicant agrees as a condition of the purchase that the 10-year confidentiality 14 period under AS 43.55.025(f)(2)(C)(ii) that would otherwise apply to the seismic data 15 or other geophysical data is waived by the applicant;
07 For a purchase of a transferable tax credit certificate issued under AS 43.55.023 or a 08 production tax credit certificate issued under AS 43.55.025, the discount rate is the 09 true interest cost plus 1.5 percent, but may not exceed 10 percent, in total, 10 (1) for either a transferable tax credit certificate issued under 11 AS 43.55.023 for which the applicant submitted data required under 12 AS 43.55.025(f)(2) or a production tax credit certificate issued under AS 43.55.025, if 13 the applicant agrees as a condition of the purchase that the 10-year confidentiality 14 period under AS 43.55.025(f)(2)(C)(ii) that would otherwise apply to the seismic data 15 or other geophysical data is waived by the applicant;
04 (s) The legislature may, for purposes of making purchases, refunds, and 05 payments under this section, appropriate an amount equal to the amount disbursed to 06 the commissioner by the corporation for purchases, refunds, and payments under this 07 section.
04 (s) The legislature may, for purposes of making purchases, refunds, and 05 payments under this section, appropriate an amount equal to the amount disbursed to 06 the commissioner by the Alaska Tax Credit Certificate Bond Corporation for 07 purchases, refunds, and payments under this section.
The legislature may 12 appropriate the annual estimated balance in the account to the Alaska tax credit 13 certificate bond corporation reserve fund established under AS 37.18.040.
The legislature may 12 appropriate the annual estimated balance in the account to the Alaska Tax Credit 13 Certificate Bond Corporation reserve fund established under AS 37.18.040.
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Action History

  1. EFFECTIVE DATE(S) OF LAW 6/21/18

  2. Signed into law 6/20 CHAPTER 33 SLA 18

  3. MANIFEST ERROR(S)

  4. 2:53 PM 5/29/18 Transmitted to Governor

  5. FN5: (REV/DEBT SERVICE)

  6. FN(S) ATTACHED TO APPROP. BILL HB 286

  7. LEG FINANCE APPROPRIATION MESSAGE 6/4/18

  8. VERSION: CSHB 331(FIN)

  9. RETURN TO (H), TRANSMIT TO GOV NEXT

  10. EFFECTIVE DATE(S) ADOPTED Y18 N1 E1

  11. PASSED Y14 N5 E1

  12. AUTOMATICALLY IN THIRD READING

  13. AM NO 6 FAILED Y5 N14 E1

  14. AM NO 5 FAILED Y5 N14 E1

  15. AM NO 4 FAILED Y5 N14 E1

  16. AM NO 3 FAILED Y5 N14 E1

  17. AM NO 2 FAILED Y5 N14 E1

  18. RESCIND ACTION (FLD) AM 2 UC

  19. AM NO 2 FAILED Y6 N13 E1

  20. AM NO 1 FAILED Y5 N14 E1

  21. RETURN TO SECOND FOR AMS UC

  22. Read the third time CSHB 331(FIN)

  23. ADVANCED TO THIRD READING 5/11 CALENDAR

  24. Read the second time

  25. RULES TO CALENDAR 5/10/2018

  26. FN5: (REV/DEBT SERVICE)

  27. Fiscal Note 4: (Revenue)

  28. Fiscal Note 3: (Revenue)

  29. Fiscal Note 1: No fiscal impact (Natural Resources)

  30. FIN No Recommendation: OLSON

  31. FIN Do Pass: HOFFMAN, MACKINNON, BISHOP, VON IMHOF, STEVENS, MICCICHE

  32. FIN RPT 6DP 1NR

  33. Referred to Finance

  34. Read the first time - REFERRALS

  35. VERSION: CSHB 331(FIN)

  36. TRANSMITTED TO (S)

  37. EFFECTIVE DATE(S) ADOPTED Y34 N4 E2

  38. PASSED ON RECONSIDERATION Y23 N15 E2

  39. RECON TAKEN UP SAME DAY UC

  40. SEATON NOTICE OF RECONSIDERATION

  41. EFFECTIVE DATE(S) ADOPTED Y34 N4 E2

  42. PASSED Y22 N16 E2

  43. BEFORE HOUSE IN THIRD READING

  44. Read the third time CSHB 331(FIN)

  45. ADVANCED TO THIRD READING Y33 N5 E2

  46. AM NO 3 FAILED Y10 N28 E2

  47. AM NO 2 FAILED Y7 N31 E2

  48. AM NO 1 FAILED Y10 N28 E2

  49. FIN CS ADOPTED UC

  50. Read the second time

  51. HELD TO 5/3 CALENDAR

  52. RULES TO CALENDAR 5/2/2018

  53. FN5: (REV/DEBT SERVICE)

  54. Fiscal Note 4: (Revenue)

  55. Fiscal Note 3: (Revenue)

  56. Fiscal Note 1: No fiscal impact (Natural Resources)

  57. FIN Amend: KAWASAKI, NEUMAN

  58. FIN No Recommendation: GARA, ORTIZ, TILTON, FOSTER

  59. FIN Do Not Pass: GUTTENBERG

  60. FIN Do Pass: WILSON, PRUITT, GRENN, SEATON

  61. FIN RPT CS(FIN) NT 4DP 1DNP 4NR 2AM

  62. IN FINANCE

  63. RULES TO CALENDAR PENDING REPORT

  64. Fiscal Note 2: (Revenue)

  65. Fiscal Note 1: No fiscal impact (Natural Resources)

  66. RES Amend: PARISH, RAUSCHER

  67. RES No Recommendation: DRUMMOND, JOHNSON

  68. RES Do Not Pass: TARR

  69. RES Do Pass: BIRCH, TALERICO, LINCOLN, JOSEPHSON

  70. RES RPT 4DP 1DNP 2NR 2AM

  71. GOVERNOR'S TRANSMITTAL LETTER

  72. Fiscal Note 2: (Revenue)

  73. Fiscal Note 1: No fiscal impact (Natural Resources)

  74. Referred to Resources and Finance

  75. Read the first time - REFERRALS

Sponsors

  • RULES BY REQUEST OF THE GOVERNOR · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 64 not signed on · 6 voted No

Sponsors (1)

  • RULES BY REQUEST OF THE GOVERNOR

Co-sponsors (0)

None.

Not signed on (64)

64 members have not signed on to this bill.

Show all 64 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Shall Amendment No. 6 be adopted?

Failed 5 Yea · 14 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 31000
R 0301
D 2100
Total 51401
% of votes cast 25%70%0%5%
How each member voted (20)
Member Party Vote
Begich — Yea
Bishop — Nay
Coghill — Nay
Egan — Yea
Gardner — Yea
Hughes — Nay
Kelly — Nay
MacKinnon — Nay
Meyer — Nay
Micciche — Nay
Shower — Nay
Wilson — Nay
von Imhof — Nay
Bill Wielechowski D Yea
Donald Olson D Yea
Lyman Hoffman D Nay
Bert Stedman R Not Voting
Cathy Giessel R Nay
Gary Stevens R Nay
Mia Costello R Nay

Official roll call →

Shall CS FOR HOUSE BILL NO. 331(FIN) "An Act establishing the Alaska Tax Credit Certificate Bond Corporation; relating to the issuance of bonds by the Alaska Tax Credit Certificate Bond Corporation; relating to purchases of tax credit certificates and refunds and payments of tax credits; relating to the oil and gas tax credit fund; relating to overriding royalty interest agreements; providing for an effective date by repealing the effective date of secs. 2, 5, 8, 10, 31, 37, and 40, ch. 3, SSSLA 2017; and providing for an effective date" pass the Senate?

Passed 14 Yea · 5 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 9400
R 3001
D 2100
Total 14501
% of votes cast 70%25%0%5%
How each member voted (20)
Member Party Vote
Begich — Nay
Bishop — Yea
Coghill — Yea
Egan — Nay
Gardner — Nay
Hughes — Yea
Kelly — Yea
MacKinnon — Yea
Meyer — Yea
Micciche — Yea
Shower — Nay
Wilson — Yea
von Imhof — Yea
Bill Wielechowski D Nay
Donald Olson D Yea
Lyman Hoffman D Yea
Bert Stedman R Not Voting
Cathy Giessel R Yea
Gary Stevens R Yea
Mia Costello R Yea

Official roll call →

Shall the effective date clause be adopted?

Passed 18 Yea · 1 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 12100
R 3001
D 3000
Total 18101
% of votes cast 90%5%0%5%
How each member voted (20)
Member Party Vote
Begich — Yea
Bishop — Yea
Coghill — Yea
Egan — Yea
Gardner — Nay
Hughes — Yea
Kelly — Yea
MacKinnon — Yea
Meyer — Yea
Micciche — Yea
Shower — Yea
Wilson — Yea
von Imhof — Yea
Bill Wielechowski D Yea
Donald Olson D Yea
Lyman Hoffman D Yea
Bert Stedman R Not Voting
Cathy Giessel R Yea
Gary Stevens R Yea
Mia Costello R Yea

Official roll call →

Subjects

taxation finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HB 331?
HB 331 is sponsored by RULES BY REQUEST OF THE GOVERNOR.
What is the current status of HB 331?
This bill has been enacted into law. Introduced February 07, 2018. Enacted.
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