summary
Introduced
04/15/2025
04/15/2025
In Committee
05/12/2025
05/12/2025
Crossed Over
05/09/2025
05/09/2025
Passed
Dead
Introduced Session
34th Legislature
Bill Summary
An Act approving and ratifying the sale of royalty oil by the State of Alaska to Marathon Petroleum Supply and Trading Company LLC; and providing for an effective date.
AI Summary
This bill approves and ratifies a royalty oil sale contract between the State of Alaska and Marathon Petroleum Supply and Trading Company LLC, in accordance with Alaska Statute 38.06.055. Specifically, the legislature is formally endorsing an agreement dated April 14, 2025, which involves the sale of Alaska North Slope royalty oil. The contract is between the state, Marathon Petroleum Supply and Trading Company (a Delaware Limited Liability Company), and Marathon Petroleum Corporation (a Delaware Corporation). The details of the sale are attached as Exhibit 1 to a "Final Best Interest Finding and Determination" document. The bill will take effect immediately upon passage, as specified under Alaska Statute 01.10.070(c), which allows certain legislative acts to become effective instantly rather than waiting for the standard 90-day period after the end of the legislative session.
Committee Categories
Agriculture and Natural Resources, Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Rules (House)
Last Action
Senate Finance Hearing (09:00:00 3/3/2026 Senate Finance 532) (on 03/03/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.akleg.gov/basis/Bill/Detail/34?Root=HB194 |
| BillText | https://www.akleg.gov/PDF/34/Bills/HB0194A.PDF |
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