Five Alaska borough mayors voiced strong opposition to Senate Bill 280 during a Senate Resources Committee hearing Tuesday, expressing concerns about the proposed tax structure for the Alaska LNG project that would replace traditional property taxes with a throughput-based system. The bill would establish payments in lieu of taxes triggered when gas throughput reaches 1 billion cubic feet per day. Mayors argued this threshold is too high and would drastically reduce municipal revenues. Kenai Peninsula Borough Mayor Peter Micciche called it "the two mil bill," which would represent a 90 percent reduction in property tax revenue for his community. Fairbanks North Star Borough Mayor Grier Hopkins expressed opposition to the timeline for consideration of the legislation. "We will not be bullied and we will not be rushed," Hopkins said, though he clarified they were not currently being pressured by lawmakers. Hopkins noted his borough would receive only about $50,000 under the legislation compared to roughly $200,000 under current tax rates. North Slope Borough Mayor Josiah Patkotak said his borough stands to lose approximately $12 billion over 30 years from a project with an estimated $44 billion to $50 billion capital expenditure. "We are struggling to assess the actual value of the project to know what value we are potentially trading away," Patkotak testified. The Denali Borough mayor highlighted concerns about losing municipal taxing authority over $1.5 billion in infrastructure. Mat-Su Borough Mayor Edna DeVries supported the overall structure but requested a lower payment threshold than the proposed 1 billion cubic feet per day. The committee adopted a committee substitute version but set the bill aside for further review Monday to allow additional time for analysis of the mayors' concerns and potential amendments.