Alaska 31st Legislature (2019-2020) Status: Passed House 1 D cosponsors

HB 87 — An Act relating to the liquefied natural gas storage facility tax credit; and providing for an effective date.

Last action — (S) Referred to FINANCE

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

This bill died with 31st Legislature (2019-2020). It reached “Passed House” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

4 added · 4 removed

Plain-language change summary

The updated version of HB 87 extends the tax credit for liquefied natural gas storage facilities beyond January 1, 2020, now allowing facilities that start commercial operations before June 30, 2021, to qualify. It also simplifies the credit requirements by removing a tiered structure that limited credits to lower amounts for facilities commencing operations between January 1, 2020, and January 1, 2021. This change matters because it provides greater financial support for developing and expanding liquefied natural gas facilities, which could boost local economies and energy infrastructure.

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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 2019 Session Laws & Resolves 2020 - 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 HB 87 Detail FullText txt HB 87:
"An Act relating to the liquefied natural gas storage facility tax credit;
"An Act extending the liquefied natural gas storage facility tax credit;
and providing for an effective date." CS FOR HOUSE BILL NO.
and providing for an effective date." HOUSE BILL NO.
87(FIN) 01 "An Act relating to the liquefied natural gas storage facility tax credit;
87 01 "An Act extending the liquefied natural gas storage facility tax credit;
and providing 02 for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
and providing for 02 an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
05 (a) A person that is an owner of a liquefied natural gas storage facility 06 described in (b) of this section that commences commercial operation before 07 January 1, 2021 [JANUARY 1, 2020], may apply a refundable credit against a tax 08 liability [THAT MAY BE] imposed on the person under this chapter or receive the 09 amount of the credit in the form of a payment for the taxable year in which the 10 liquefied natural gas storage facility commences commercial operation.
05 (a) A person that is an owner of a liquefied natural gas storage facility 06 described in (b) of this section that commences commercial operation before June 30, 07 2021 [JANUARY 1, 2020], may apply a refundable credit against a tax liability that 08 may be imposed on the person under this chapter or receive the amount of the credit in 09 the form of a payment for the taxable year in which the liquefied natural gas storage 10 facility commences commercial operation.
[THE TAX 11 CREDIT OR PAYMENT UNDER THIS SECTION MAY NOT EXCEED THE 12 LESSER OF $15,000,000 OR 50 PERCENT OF THE COSTS INCURRED TO 13 ESTABLISH OR EXPAND THE LIQUEFIED NATURAL GAS STORAGE 14 FACILITY.] The tax credit in this section is in addition to any other credit under this chapter for which the person is eligible.
The tax credit or payment under this 11 section may not exceed the lesser of $15,000,000 or 50 percent of the costs incurred to 12 establish or expand the liquefied natural gas storage facility.
A tax credit or payment under this section 02 for a liquefied natural gas storage facility that commences commercial operation 03 (1) before January 1, 2020, may not exceed the lesser of 04 (A) $15,000,000;
The tax credit in this 13 section is in addition to any other credit under this chapter for which the person is 14 eligible.
or 05 (B) 50 percent of the costs incurred to establish or expand 06 the liquefied natural gas storage facility;
* Sec.
07 (2) on or after January 1, 2020, and before January 1, 2021, may 08 not exceed $5,000,000.
09 * Sec.
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Action History

  1. (S) Referred to FINANCE

  2. (S) FIN

  3. (S) Read the first time - REFERRALS

  4. (H) VERSION: CSHB 87(FIN)

  5. (H) TRANSMITTED TO (S)

  6. (H) COSPONSOR(S): TUCK, TARR

  7. (H) EFFECTIVE DATE(S) SAME AS PASSAGE

  8. (H) PASSED ON RECONSIDERATION Y40

  9. (H) RECON TAKEN UP SAME DAY UC

  10. (H) STUTES NOTICE OF RECONSIDERATION

  11. (H) EFFECTIVE DATE(S) SAME AS PASSAGE

  12. (H) PASSED Y40

  13. (H) Read the third time CSHB 87(FIN)

  14. (H) COSPONSOR(S): JOSEPHSON, WOOL

  15. (H) ADVANCED TO THIRD READING 5/14 CALENDAR

  16. (H) FIN CS ADOPTED UC

  17. (H) Read the second time

  18. (H) RULES TO CALENDAR 5/13/2019

  19. (H) CS(FIN) RECEIVED

  20. (H) Minutes (HFIN)

  21. (H) Moved CSHB 87(FIN) Out of Committee

  22. (H) FINANCE at 09:00 AM ADAMS ROOM 519

  23. (H) FN2: INDETERMINATE(REV)

  24. (H) NR: CARPENTER, TILTON, KNOPP, JOSEPHSON, ORTIZ, WILSON

  25. (H) DP: JOHNSTON, LEBON, SULLIVAN-LEONARD, FOSTER

  26. (H) (CS FORTHCOMING)

  27. (H) FIN RPT CS(FIN) 4DP 6NR

  28. (H) Minutes (HFIN)

  29. (H) Scheduled but Not Heard -- Recessed to 1:00 pm --

  30. (H) FINANCE at 09:00 AM ADAMS ROOM 519

  31. (H) Minutes (HFIN)

  32. (H) Heard & Held

  33. (H) FINANCE at 01:30 PM ADAMS ROOM 519

  34. (H) Minutes (HFIN)

  35. (H) Heard & Held

  36. (H) FINANCE at 01:30 PM ADAMS ROOM 519

  37. (H) FN1: INDETERMINATE(REV)

  38. (H) NR: PRUITT

  39. (H) DP: LINCOLN, ZULKOSKY, SPOHNHOLZ, FIELDS, RAUSCHER, HOPKINS

  40. (H) ENE RPT 6DP 1NR

  41. (H) Minutes (HENE)

  42. (H) Moved HB 87 Out of Committee -- Please Note Time Change --

  43. (H) ENERGY at 11:00 AM CAPITOL 17

  44. (H) COSPONSOR(S): LEBON

  45. (H) ENE, FIN

  46. (H) Read the first time - REFERRALS

Sponsors

  • THOMPSON · Primary
  • Hopkins · Cosponsor
  • LeBon · Cosponsor
  • Andy Josephson · Cosponsor
  • Wool · Cosponsor
  • Tuck · Cosponsor
  • Tarr · Cosponsor

Sponsorship breakdown

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1 sponsors · 6 co-sponsors · 58 not signed on

Sponsors (1)

  • THOMPSON

Co-sponsors (6)

Not signed on (58)

58 members have not signed on to this bill.

Show all 58 →

"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.

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taxation energy
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Frequently asked questions

Who sponsors HB 87?
HB 87 is sponsored by THOMPSON, Hopkins, LeBon, Andy Josephson (D), Wool, Tuck, and Tarr.
What is the current status of HB 87?
This bill died with 31st Legislature (2019-2020). It reached “Passed House” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 87?
Track HB 87 free on One Click Politics — get push/email alerts when it moves.

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