Frank Richards
95:28 - 96:16
"the original legislation that created AGDC gave AGDC essentially tax-exempt status should we have ownership in the project during construction. And then it was going to fall to the tax structure under 4356 for oil and gas property taxes. Now, the, the concept that is now in front of us with House Bill 381, this alternative volumetric tax, would— is really going to be based on the volumes of gas flowing out of the project."
“the original legislation that created AGDC gave AGDC essentially tax-exempt status should we have ownership in the project during construction. And then it was going to fall to the tax structure under 4356 for oil and gas property taxes. Now, the, the concept that is now in front of us with House Bill 381, this alternative volumetric tax, would— is really going to be based on the volumes of gas flowing out of the project.”
- Speaker
- Frank Richards
- Timestamp
- 95:28 – 96:16
- Source
- HFIN-260527-1330
- Community
- Alaska News
- Location
- Alaska
- Captured at
- May 27, 2026
From the transcript
Through the Chair, Representative Tomaszewski, the original legislation that created AGDC gave AGDC essentially tax-exempt status should we have ownership in the project during construction. And then it was going to fall to the tax structure under 4356 for oil and gas property taxes. Now, the, the concept that is now in front of us with House Bill 381, this alternative volumetric tax, would— is really going to be based on the volumes of gas flowing out of the project. And just because AGDC is a 25% minority owner It doesn't matter. It's that the tax or the AVT will be applied based on the volume depending on— independent of ownership.
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