08/19/14 - 9:21pm
ANCHORAGE, Alaska (AP) — Alaska's revised oil tax system may have a short lifespan, but as of Tuesday night, the matter was too close to call.
Votes in favor of Ballot Measure 1, which would repeal a production tax approved by lawmakers in 2013, were leading by a narrow margin.
Republican lawmakers approved the revised tax system at the urging of Gov. Sean Parnell.
Senate Bill 21 narrowly passed the state Senate with the promise that it would attract investment for new wells and put more oil in the trans-Alaska pipeline.