06/11/2026
This afternoon, the Alaska House Finance Committee successfully moved out AKLNG legislation that includes many of the provisions sought by Governor Mike Dunleavy when he first proposed HB381 earlier this year. This legislation contains significant opportunities for Alaska to benefit from the AKLNG project, both in Phase I where natural gas from the North Slope will be available for use in Alaskan homes at a reasonable price, and in Phase II where exports will help bring the cost of gas down for every end user.
By adopting some limited tax abatement at the beginning, and implementing a new Alternative Volumetric Tax (AVT) for natural gas infrastructure, I believe we can expect to see this project move forward toward final investment. In addition to the new property tax structure for AKLNG, the bill also includes meaningful mitigation funding for affected municipalities up front.
This is a good project for Alaska, it will provide thousands of good-paying jobs and as the Governor has consistently maintained, it will deliver long-term benefits for Alaska.
While not every region of the state will see immediate benefits from mitigation funding, and not every affected region received exactly what they hoped for, I concur with Rep. Jamie Allard 100% when she stated that our natural gas resources belong to each and every one of us. Thank you to our entire Finance team for your efforts. It's time to get this legislation across the finish line.
https://www.ktoo.org/gavel/video/?clientID=2147483647&eventID=2026061035&startStreamAt=3787&stopStreamAt=3799