Chief Economist · Department of Revenue
11 articles · 12 transcripts · 24 clips
“This would apply to all companies, all pass-through entity companies doing business in the state regardless of whether the AK LNG project moves forward or not and would have material state revenue impacts as well as material investment economic impacts for the impacted taxpayers regardless of what happens with the AK LNG project.”
“it does look like a challenging project even with the tax relief.”
“Provision would have material revenue and economic impacts regardless of if the project proceeds”
“we're anticipating an oil price in the, I think, $75 per barrel range for the next fiscal year, and we are expecting that that price will decrease into the future to around $70 per barrel in real terms over the long term”
“we have done analysis and we have detailed analysis coming up later in the presentation. That looks at gas break-even prices.”
“given the time and resource constraints with a special session that ends in 4 days, we have maintained our baseline model assumptions at this point.”
“The core purpose of the legislation is to create a policy framework for replacing certain state and municipal property taxes with an alternative volumetric tax.”
“This bill would reduce total state revenues over life of project from 29.7 down to $22.8 billion, would reduce municipal revenues from 17.3 down to $6.2 billion”
“Senator Kiel, through the Chair, I don't know.”
“in 2033, that value is $9.07. To put that into perspective, current futures market prices for delivered LNG in Asia are in the $8 to $9 range. And so that would be on the high end of potentially competitive under current law”
“under the bill before the committee, we assume that the property tax would remain in place. For the gas treatment plant and for the LNG facility. Municipalities have the authority under the legislation before the committee to negotiate down that property tax or potentially replace it with a negotiated equity share”