An Act relating to the taxation of certain natural gas project property and related facilities; relating to the determination of the value of taxable real and personal property for purposes of calculating local contributions for public school funding; relating to municipal property taxes; relating to the Alaska Gasline Development Corporation; relating to revenue from a North Slope natural gas project; relating to an alternative volumetric tax on natural gas throughput; relating to agreements...

Summary

The bill changes how natural‑gas project property is taxed, adds an alternative volumetric tax, and sets a cap on the value of property that can receive a tax abatement for school‑fund calculations. It also gives the Alaska Gasline Development Corporation new powers to own, operate, and contract for pipelines and related facilities, and requires reporting and confidentiality safeguards. The changes aim to secure revenue for local schools and municipalities while supporting the development of a North Slope gas pipeline.

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