Alaska Ratification of Unit Agreement
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FAQ
JUNEAU, Alaska (AP) ? Nearly every Alaskan will receive a $1,312 check, their annual share from the earnings of the state's nest-egg oil fund.
It will call for reduced royalty rates paid by producers to the state, below the standard rate of 12.5%, they said. John Boyle, Alaska Department of Natural Resources Commissioner, said the agency is working to determine the reduced royalty rate that might be proposed in the legislation.
The current royalty rate officially charged for oil, gas, and coal drilled or mined from U.S. public lands is 12.5 percent. Remarkably, for oil and gas, this rate has not changed since the 1920s; for coal, it's been in effect since the 1970s.
General Government (GP and GZ; formerly GG and GY): Statewide unit of classified, nonconfidential, nonsupervisory employees of the Executive Branch not included in another bargaining unit. The unit includes clerical, technical, professional and administrative personnel.
The political cost of the benefit is high. JUNEAU, Alaska (AP) ? Nearly every Alaskan will receive a $1,312 check starting this week, their annual share from the earnings of the state's nest-egg oil fund.
While royalties on oil and gas produced from state territory generally hover between 12.5% and 16.67%, state law gives the commissioner of the Department of Natural Resources the authority to vary those terms if doing so is deemed in the state's best interest.
