Governor Sean Parnell today visited Flint Hills Refinery in North Pole where he signed a package of bills including Senate Bill 86 which extends the State's contract for royalty oil with Flint Hills Refinery. The governor also signed Senate Bill 65 which updates Alaska's trust and estate laws.
"Extending the State's contract with Flint Hills Refinery is good for the Interior and good for Alaska," Governor Parnell said. "Many industries across Alaska rely on the fuels that Flint Hills produces, and the extension of this contract will keep Alaska's economy growing."
SB 86 extends the contract between the State of Alaska and Flint Hills Refinery for five years, ending on March 31, 2019. Specifically, the State will sell 18,000 to 30,000 barrels per day of its royalty oil to Flint Hills.
SB 65, sponsored by Senator John Coghill, modernizes Alaska's trust and estate laws making sure they are up-to-date and conform to current federal laws. This will ensure that Alaska remains a premier place for establishing estates and trusts.