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State Proposes Bonding to Cover Oil Credits

Legislation scheduled to be introduced tomorrow (Fri) in Juneau would provide a way for the state to pay off oil tax credits owed to some North Slope energy companies. State budget deficits have delayed payment of many of the cash credits, which were designed to spur new development. As KUAC’s Dan Bross reports, the pay back proposal comes as the credits are also eyed by Trans Alaska Pipeline owners to help cover a back tax settlement.