An Act establishing an income tax on certain entities producing or transporting oil or gas in the state; approving and ratifying the sale of royalty oil by the State of Alaska to Marathon Petroleum Supply and Trading Company LLC.

HB 194 approves and ratifies an existing agreement for the State of Alaska to sell royalty oil to Marathon Petroleum Supply and Trading Company LLC. The bill directly affects the state (as seller) and Marathon Petroleum (as buyer), confirming a specific transaction for royalty oil from Alaska North Slope production. It does not create new policy but formally endorses a pre-existing contract dated April 14, 2025, as required by law. The bill takes immediate effect upon enactment.