Alaskan Democrats Outline State Oil Tax Overhaul

Law360, New York (February 25, 2014, 6:46 PM EST) -- Alaska's minority Democratic party on Monday introduced legislation that would overhaul the state's tax regime on oil production, with the goal of increasing oil production in the state and returning more money to Alaska's citizens.

According to Rep. Les Gara, D-Anchorage, the legislation would repeal the changes made by an oil tax bill signed into law last year, reinstating provisions designed to help new companies explore new oil reserves and ensure Alaskans receive a fair share of oil profits when prices rise.

“The governor’s [oil revenue]...
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