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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />Introduced by: Borough Manager <br />Drafted by: Finance Director <br />Introduced on: 04/18/2019 <br />Public Hearing Date: 05/16/2019 <br />Failed on: 05/16/2019 <br />KODIAK ISLAND BOROUGH <br />ORDINANCE NO. FY2019-14 <br />AN ORDINANCE OF THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH AMENDING <br />KODIAK ISLAND BOROUGH CODE OF ORDINANCES TITLE 3 REVENUE AND FINANCE <br />CHAPTER 3.45 SEVERANCE TAX SECTION 3.45.020 RESOURCES SUBJECT TO TAX <br />SETTING AN EXCISE TAX RATE <br />WHEREAS, severance tax, a form of excise tax, was established to levy a tax on all resources <br />extracted from Kodiak Island Borough lands and waters; and <br />WHEREAS, the current severance tax rate is the sum of all area -wide mill levies; and <br />WHEREAS, the recent voter approved tax revenue cap may change the area -wide mill rates <br />annually; and <br />WHEREAS, the Kodiak Island Borough seeks to maintain a stable severance tax rate for the <br />Borough and for entities subject to the severance tax. <br />NOW, THEREFORE, BE IT ORDAINED BY THE ASSEMBLY OF THE KODIAK ISLAND <br />BOROUGH THAT: <br />Section 1: This ordinance is of permanent nature and shall become a part of the Kodiak Island <br />Borough Code of Ordinances. <br />Section 2: That section 3.45.020 of the Kodiak Island Borough Code of Ordinances is amended <br />to read as follows: <br />3.45.020 Resources subject to tax. <br />There is levied in the borough, on any severer or harvester of certain natural resources, an excise <br />tax, denominated as a severance tax. The tax rate shall be the s rn of all area • de ^,'" levies <br />0.01075 which will be multiplied by the gross production value for the calendar quarter resulting <br />from the following activities: <br />A. Mining, extracting, harvesting, removing or producing for sale, profit, or commercial <br />use, any copper, gold, silver, zinc, lead, molybdenum, or other metallic mineral <br />product, compound, or combination of mineral products; <br />B. Felling, removing, or producing for sale, profit, or commercial use, timber or any <br />product of the forest; <br />Kodiak Island Borough, Alaska <br />Deletion — Red, Strikeout <br />Insertion — Bold, Blue, Underlined <br />Ordinance No. FY2019-14 <br />Page 1 of 2 <br />