JUNEAU, Alaska—A new version of the Senate oil tax plan is expected to be unveiled next week.
The Senate Finance Committee has been holding hearings on the issue. Co-chair Bert Stedman says the panel is working on a provision that would reward new production. He says the current provision in SB192 isn't as effective as it needs to be. He says the committee also plans to focus on progressivity and splitting profit oil at higher oil prices.
These aren't new areas of focus, but time is running out this session for the Senate to craft a plan that can be sent to the House for consideration.
Stedman says there are other elements of the tax structure that will need to be addressed in future years.