By Associated Press

8:14 AM February 25, 2014

Committee chair Cathy Giessel said this project is a legacy that can be left for future generations.

JUNEAU, Alaska (AP) – A bill aimed at advancing a liquefied natural gas project in Alaska has moved from the Senate Resources Committee.

The committee version made some changes to what Gov. Sean Parnell proposed. For example, the Resources version says the fixed royalty rate for gas cannot fall below 12.5 percent and that confidential information related to contract negotiations shall be shared with the Legislature in executive session or under confidentiality agreements, rather than “may.”

Committee chair Cathy Giessel said this project is a legacy that can be left for future generations.

She said fiscal issues and those surrounding property taxes and creation of a subsidiary of the Alaska Gasline Development Corp., need to be looked at more closely. She expressed confidence the Senate Finance Committee would do that.

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