An Act relating to the royalty rate for the Kitchen Lights Unit; and providing for an effective date.

Summary

The bill lowers the royalty rate to 3% of the gross value of gas produced from specific Kitchen Lights Unit leases, starting Jan. 1, 2026. It applies to seven listed lease numbers in the Cook Inlet area and aims to keep production economically viable and maintain affordable energy for Southcentral Alaska. The change takes effect immediately and is retroactive to the start date.

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