The Fair Share Act is a bill proposed by a group of dedicated Alaskans to amend existing laws to permit Alaskans to get our fair share.  The Fair Share Act’s main features are:

  • It applies only to our largest and most profitable legacy fields. By design, it does not apply to new and developing fields which need more support.

  • It increases Alaskans’ share of production revenues by increasing the gross tax rate, eliminating net tax credits, and increasing our share as the price of oil and producers’ profits increase. These changes will increase our share by roughly $1 billion per year.

  • It only permits costs related to our largest and most profitable legacy fields to be deducted from our share from those fields. This will help level the playing field between independents and majors and ensure Alaskans’ share from those fields is not washed away through deducting costs unrelated to those fields.

  • It permits Alaskans to know the revenues, costs, and profits for each of the three largest and most profitable legacy fields. This will ensure Alaskans have the facts necessary to discuss, establish, and maintain their fair share.