By Alaska Legislative Digest

Legislation that would increase the mine license tax on hard rock mines was reported out of the House Ways and Means Committee without objection, Jan 30. The bill would exempt most placer mines from the levy through an exemption on the first $100,000 of net income. Based on continued high gold prices, the bill is projected to increase state revenues by $30 million to $40 million per year, according to the Department of Revenue's fiscal note. House Bill 156, sponsored by Rep. Paul Seaton, R-Homer, is now before the House Resources Committee.