Representative Chris Tuck

Representative
Chris Tuck

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October 1, 2015

Special Session Update

Dear Neighbors,

Recently Governor Walker issued a proclamation calling for a legislative special session to convene in Juneau on October 24 to address two key topics:

First, we will explore putting in place a gas reserves tax on undeveloped North Slope natural gas. Currently, companies purchasing leases from the state have a contractual obligation to bring profitable gas to market. However, without a reserves tax there is little means to enforce this “duty to produce” other than by revoking the leases.

Above: Rep. Chris Tuck serving on the Select Committee on Legislative Ethics.

For background information on the issue, I encourage you to go to the link below and read Governor Walker’s excellent opinion editorial which explains how a reserves tax was used by Governor Jay Hammond in the 1970s to spur construction of the Trans-Alaska Pipeline:

http://m.juneauempire.com/opinion/2015-09-27/my-turn-its-time-alaska-drive-its-destiny#gsc.tab=0

Second, we will discuss making budget appropriations to fund the state’s part in the Alaska Liquefied Natural Gas (AK LNG) project, including the state’s option to buy TransCanada’s share of the gas pipeline and treatment facility. TransCanada is under contract to build the pipeline and is currently entitled to a share of the project. By buying out TransCanada, Alaska would own a total of 25 percent of the project and have equal footing with each of the other three stakeholders; Exxon, BP and Conoco Phillips.

As the owners of the natural gas, it is important that Alaska negotiate from a position of strength. We must remember that the Legislature essentially acts as the Board of Directors for the state’s resources and our duty is to maximize returns on our resource for the Alaskan people. Understandably, the leaseholders’ primary obligation is to generate profits for their shareholders, but we would be very unwise expect them to look out for Alaska’s interests. That is our job in the Legislature.

I am honored to take part in helping us get a deal that will generate new revenue for the state, promote more oil and gas exploration, create thousands of new, high-paying jobs, and provide reliable and affordable energy to Alaskan homes and businesses.

I’ll keep you posted as new information becomes available. Meanwhile, please remember that I’m here for you, so please keep in touch on matters important to you and your family!

Warm regards,

      Chris Tuck
      Alaska State Representative
      District 23 - Anchorage

Tuck’s Tips:

Permanent Fund Dividends are due to hit bank accounts electronically today. Other recipients can expect checks to arrive by mail over the next several days.

If you would like to receive your dividend each year at the earliest possible date, please go to the following link to download the form to sign up for direct deposit:

http://forms.pfd.dor.alaska.gov/Forms/index

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