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Alaska2026Passed Legislature

HB247

Alaska Climate Change Response Fund and Oil Surcharge

Last scannedSep 10, 2026, 12:32 AM

In one sentence

This bill creates a new fee on oil production to fund grants for projects that help communities prepare for climate change.

What it does

  • Creates a surcharge of $0.20 per barrel of oil produced in Alaska, excluding exempted oil.
  • Establishes the Climate Change Response Fund within the state's general fund.
  • Allows money from the surcharge to be used for grants without waiting for further legislative approval once appropriated.
  • Sets rules that let producers use tax credits to pay past taxes, interest, or penalties related to production tax, excluding specific other surcharges and taxes.
  • Requires oil companies to report production data by March 31 of the year following the calendar year of production.

Who it affects

  • Oil producers who must pay the new surcharge and file reports.
  • The Department of Environmental Conservation, which will administer the fund and award grants.
  • Nongovernmental organizations, political subdivisions of the state (local governments), and tribal governments that can apply for grants.

Limits and unknowns

  • The official text provided does not specify the exact effective date of the law.
  • The full list of priority factors for awarding grants is cut off in the provided source material after 'mitigate'.
  • It is unclear how much money will be collected until actual oil production numbers are known.

Plain language

Terms to know

Surcharge
An extra fee added to a tax; in this case, it is $0.20 per barrel of oil produced from each lease or property.
Climate Change Response Fund
A pool of money created within the general fund to pay for grants that help build or improve infrastructure against climate change risks.
Capital Asset
Physical property or infrastructure, such as buildings or roads, used in operations and eligible for grant funding under this bill.

Official record

Sources

Validated
Official bill pageIntroduced textCurrent bill text

Official summary

CLIMATE CHANGE RESPONSE FUND & GRANTS An Act relating to the climate change response fund and grant program; relating to a new oil surcharge; and providing for an effective date.

Official activity

Bill history

  1. (H) Heard & Held -- Delayed to a Call of the Chair --Text
  2. (H) RESOURCES at 01:00 PM BARNES 124Text
  3. (H) COSPONSOR(S): STORY1463
  4. (H) REFERRED TO RESOURCES1449
  5. (H) RES, FIN1449
  6. (H) READ THE FIRST TIME - REFERRALS1449
  7. (H) PREFILE RELEASED 1/9/261449