Homer Alaska - Business

Story last updated at 1:42 PM on Wednesday, February 8, 2012

Senate plans generic tax bill, at first




JUNEAU (AP) — The Alaska Senate plans to unveil a generic oil tax bill this week, leaving to the committee process the job of working out the details.

Senate President Gary Stevens, R-Kodiak, says lawmakers didn't want to set "false expectations," by putting something in a bill and then changing it later.

He says the bill will include the existing method for splitting profits between the state and oil companies at periods of high oil prices.

Senators who last year refused to act on the governor's tax cut bill this year have expressed openness to discussing the progressive surcharge.

But senators, like Bert Stedman and Joe Paskvan, have been insistent that they will not plunk down solutions without first knowing what problems might exist with the current tax regime.

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