University of Texas Law School Conference on Oil and Gas Taxes

Author: Bert Stedman

I recently attended two days of federal oil and gas tax courses in Houston, Texas. The “Parker C. Fielder” conference brings government tax experts together with industry representatives to discuss the latest enforcement and tax issues. The conference presentations focus on cost recovery, partnerships and how the choice of a business form affects taxes, and investing and financing in the oil and gas industry. Oil companies doing business in Alaska are affected by both federal and state tax laws.

Lessons learned include suggesting a similar conference in Alaska focused on state oil and gas tax laws, effective methods for issuing tax guidance and avoiding unnecessary disputes, and how business entity form can affect taxes. It is always helpful for legislators to stay informed and up to date on oil and gas taxes, which are a main source of revenue for the State of Alaska and to the Alaska Permanent Fund.

December 20th, 2019  |  Posted in News & Comment  |  No Comments »

National Petroleum Council Meetings

Author: Bert Stedman

I serve on the National Petroleum Council (NPC), an oil and gas advisory board to the Secretary of Energy.  My position on the NPC provides input on oil and gas issues from a state level perspective.

On December 12, 2019, the NPC held a meeting in Washington, D.C.  Two reports were reviewed:  “America’s Evolving Oil and Natural Gas Transportation Infrastructure” and “Meeting the Dual Challenge:  A Roadmap to At-Scale Deployment of Carbon Capture, Use, and Storage in the United States”.  Both reports are in in the process of being finalized and provided to Energy Secretary Perry. 

Drafts of these reports may be read at:  https://www.npc.org

December 17th, 2019  |  Posted in News & Comment  |  No Comments »

Southeast Conference

Author: Bert Stedman

In mid-September, Southeast Conference held their 2019 Annual Meeting in Sitka, Alaska. The theme for this year’s annual meeting was, “Building the Economy of Tomorrow.” Leaders and participants from the district heard reports from the major industries such as tourism, mining, timber, hydropower, seafood, and healthcare. There were also reports given directly from the Alaska State Legislators, who represent the Southeast region, or from the local, state, or federal government liaisons. All the presentations can be reviewed here.

While previous Southeast Conference meetings usually stay focused on economic growth ideas, a lot of the focus of this year’s meeting was on the Alaska Marine Highway System (AMHS): it’s precarious political and financial situation, removal of service from Prince Rupert, and the future of the system.

It goes without saying that ferries are vital to our communities and our economy. The AMHS has been the backbone of the coastal community’s transportation system for nearly three generations. There was a lot of pushback from coastal Alaska during the last legislative session and over the summer regarding operations of the AMHS and its budget. One bright spot is that the Senate Finance Committee restored approximately $84 million dollars to AMHS savings accounts for future use. These funds had been targeted to be swept away and were going to be used for non-AMHS purposes.

I sincerely hope the Alaska Department of Transportation has heard our voices and adequately provides funding for the AMHS’s future.

I would like to thank all of you who reached out to my office in support of Alaska Marine Highway System – it is worth fighting for.

October 23rd, 2019  |  Posted in News & Comment  |  No Comments »

Legislature Toughens Crime Bill

Author: Bert Stedman

Alaska was named the “Most Dangerous State in America” after the passage of SB 91 (2016 – Omnibus Crime Law & Procedure, Corrections) which weakened our criminal laws and the consequences for breaking drug trafficking laws. Trafficking in illegal drugs increased to the point where the entire state of Alaska was designated as a “High Intensity Drug Trafficking Area” by the Federal government. The Alaska State Troopers testified regarding the trafficking and concluded that the drug problem increased property and violent crimes.

According to the Department of Public Safety Crime in Alaska, 2017 Annual Report, Crime Clock, p.7:

“In Alaska, there is one murder every 6 days, one rape every 8 hours,
one robbery every 9 hours, and one assault and one burglary every 2 hours.”

Governor Dunleavy introduced several bills at the beginning of the 31st Legislative Session to address our criminal laws and protect Alaskans.

I am happy to report the Legislature strengthened our criminal laws and reduced the loopholes Alaskan’s are dealing with today regarding the passage of SB 91 (2016). Specifically, the Legislature’s version of the bill makes these key changes:

• Possessing the most dangerous illegal drugs in Alaska would be a felony, this includes: heroin, methamphetamine, and fentanyl.
• Misdemeanor sentences may impose meaningful jail time.
• Requires those convicted of the most serious crimes to serve more jail time on their sentence before being able to seek parole and early release from prison. This was an amendment I added in Senate Finance

August 23rd, 2019  |  Posted in News & Comment  |  No Comments »