Signature collection complete for SB 21 effort

Supporters of an effort to repeal Senate Bill 21 said on Friday that they’ve collected the necessary signatures to put the new oil tax law to a vote.

Gov. Sean Parnell and other supporters of the change in oil tax rules the Legislature approved this past session say it will spur development in the state’s oil fields by offering tax incentives.

Repeal supporters say the new law could cost the state billions in lost revenue with no performance requirements from producers.

“Hundreds of volunteers from across the state responded to the urgency of the 90-day timeline mandated to pass a signature threshold in 30 districts. Last night, the campaign officially passed the signature threshold in all 40 Alaskan districts. Thank you to Kotzebue, Haines, Bethel, Craig, Elim, Dillingham, Juneau, Anchorage, Sitka, Wasilla, Fairbanks, Valdez, Ketchikan, Nome and the other dozens and dozens of communities who rallied together logistically to gather signatures,” read a press release issued Friday.

If certified, the initiative will be on the state’s August 2014 primary ballot.