Group Proposes Ballot Measure to Restore Alaska's Fair Share of Oil Production Revenues
Posted & Edited By MARY KAUFFMAN
August 20, 2019
(SitNews) Anchorage, Alaska – On Friday, August 16, a group of Alaskans came together to submit an initiative application to the Alaska Division of Elections for the Fair Share Act to be added to the 2020 ballot. If placed on the 2020 ballot and approved by voters, the Fair Share Act will increase Alaskans’ share of production revenues from the sale of Alaska's oil.
“Alaskans should receive their fair share from the sale of our oil,” states Robin Brena, one of the initiative committee members and the former Chair of Governor Walker’s Transition Subcommittee on Oil and Gas. “We are currently giving away $1-$2 billion per year in tax breaks for oil produced from our largest and most profitable fields. Alaskans need to get a better deal for our oil from these fields.”
Specifically, the Fair Share Act would:
- Only apply to the largest and most profitable oil fields;
- Increase Alaskans’ share of our production revenues by $1 billion per year;
- Require producer filings based on the revenues and costs for each field to be public; and
- Permit commonsense solutions for funding essential services, capital projects, and our PFDs.
“We should not be giving away tax breaks and credits when we are unable to fund essential services such as education, universities, senior services, public safety, rural electrical equalization, and the ferry system,” said Jane Angvik, one of the initiative committee members and a member of Alaska Women’s Hall of Fame for her long history of public service to Alaska. “I’m proud the Fair Share Act will begin the conversation with Alaskans toward finding more balanced and commonsense solutions that permit us to invest in the future of Alaska,” said Angvik.
“The Fair Share Act represents a commonsense solution for our budget deficit,” stated Merrick Peirce, one of the initiative committee members and the former CFO for the Alaska Gasline Port Authority and a member of Governor Palin’s Transition Team, which laid out the groundwork for Alaska’s Clear and Equitable Share (ACES). “We should be doing much better than we are, and if we are able to keep more of our production revenues within Alaska, it should help our economy, save and create more jobs for Alaskans, help fund capital projects throughout Alaska, and help fund our PFDs,” said Peirce.
The Fair Share Act's intent is to increase Alaskans’ share of the production revenues collected from the sale of oil from the largest and most profitable oil fields on the North Slope. The “Vote Yes for Alaska’s Fair Share” campaign believes the Fair Share Act will end unnecessary tax breaks, be a commonsense solution for Alaska’s fiscal deficit, and create a better future for Alaska.
The petition ID is 19OGTX with the application review deadline October 15, 2019. The application is currently under review by the Alaska Division of Elections. By the deadline, the department will determine if the petition was properly filed and go through a review process to determine if the application can be certified and the sponsors notified.
An initiative petition is the process that people, instead of the legislature, may use to introduce and enact a law.
Initiative Petition Timeline
- A three member initiative committee files an initiative petition with the lieutenant governor with the proposed bill, signatures of 100 qualified registered voters to serve as sponsors and a $100 deposit.
- Within 60 calendar days after receipt, the lieutenant governor notifies the initiative committee if the application is denied or certified.
- If certified, signature petition booklets are prepared by the Division of Elections. Upon notification that booklets are available, the initiative committee has 365 days to collect signatures from qualified registered voters.
- Signatures must be equal in number to 10 percent of those who voted in the preceding general election, are residents in at least three-fourths of the house districts and who, in each of the house districts, are equal in number to seven percent of those who voted in the preceding general election in the house district.
- Once the initiative committee files the petition booklets with the Division of Elections, the division reviews and verifies signers in the booklets. The lieutenant governor notifies the initiative committee if the petition was properly or improperly filed within 60 days of receipt of the booklets.
- If properly filed, the ballot title and proposition will appear on the ballot of the first statewide primary, general or special election held after a legislative session has convened and adjourned and a period of 120 days has expired since the adjournment of the legislative session.
On the Web:
Sponsors Proposed Bill Language: An Act relating to the oil and gas production tax, tax payments, and tax credits. PDF
The initiative petition procedures appear in Article XI of the Alaska Constitution, Alaska Statutes 15.45.010 through 15.45.245 and Title 6 Alaska Administrative Code 25.240.
Source of News:
Alaska's Fair Share
Alaska Division of Elections
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