Judge dismisses Alaska bonding plan lawsuit

A state court judge has dismissed a challenge to former Gov. Bill Walker’s plan to use bonding to pay Alaska’s oil and gas tax credit obligations.

Superior Court Judge Jude Pate, in a written order dated Wednesday, granted the state’s request to dismiss the challenge by resident Eric Forrer.

Pate said his role is not to make economic policy judgments or second-guess the Legislature but to apply the law of the state Constitution as interpreted by the Alaska Supreme Court.

Lawmakers last year passed legislation to establish a new state corporation that would be empowered to sell up to $1 billion in bonds to pay off remaining tax credit obligations. Legislators previously voted to end a tax credit program geared toward small producers and developers because they said it was no longer affordable.

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