00 CS FOR SENATE BILL NO. 236(EDC) 01 "An Act relating to tax credits for cash contributions by taxpayers that are accepted for 02 certain educational purposes and facilities; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04  * Section 1. AS 21.06.110 is amended to read: 05 Sec. 21.06.110. Director's annual report. As early in each calendar year as is 06 reasonably possible, the director shall prepare and deliver an annual report to the 07 commissioner, who shall notify the legislature that the report is available, showing, 08 with respect to the preceding calendar year, 09 (1) a list of the authorized insurers transacting insurance in this state, 10 with a summary of their financial statement as the director considers appropriate; 11 (2) the name of each insurer whose certificate of authority was 12 surrendered, suspended, or revoked during the year and the cause of surrender, 13 suspension, or revocation; 14 (3) the name of each insurer authorized to do business in this state 01 against which delinquency or similar proceedings were instituted and, if against an 02 insurer domiciled in this state, a concise statement of the facts with respect to each 03 proceeding and its present status; 04 (4) a statement in regard to examination of rating organizations, 05 advisory organizations, joint underwriters, and joint reinsurers as required by 06 AS 21.39.120; 07 (5) the receipt and expenses of the division for the year; 08 (6) recommendations of the director as to amendments or 09 supplementation of laws affecting insurance or the office of director; 10 (7) statistical information regarding health insurance, including the 11 number of individual and group policies sold or terminated in the state; this paragraph 12 does not authorize the director to require an insurer to release proprietary information; 13 (8) the annual percentage of health claims paid in the state that meets 14 the requirements of AS 21.36.128(a) and (d); [AND] 15 (9) the total amount of contributions reported and the total  16 amount of credit claimed under AS 21.89.070 and 21.89.075; and  17 (10) other pertinent information and matters the director considers 18 proper. 19  * Sec. 2. AS 21.89.070(a) is amended to read: 20 (a) A taxpayer is allowed a credit against the tax due under AS 21.09.210 or 21 AS 21.66.110 for cash contributions accepted 22 (1) for direct instruction, research, and educational support purposes, 23 including library and museum acquisitions, and contributions to endowment, by an 24 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 25 four-year college accredited by a regional accreditation association; 26 (2) for secondary school level vocational education courses, [AND] 27 programs, and facilities by a school district in the state; [AND] 28 (3) for vocational education courses, programs, and facilities by a 29 state-operated vocational technical education and training school; and  30 (4) for a facility by a nonprofit, public or private, Alaska two-year  31 or four-year college accredited by a regional accreditation association. 01  * Sec. 3. AS 21.89.070(a), as amended by sec. 2 of this Act, is amended to read: 02 (a) A taxpayer is allowed a credit against the tax due under AS 21.09.210 or 03 AS 21.66.110 for cash contributions accepted 04 (1) for direct instruction, research, and educational support purposes, 05 including library and museum acquisitions, and contributions to endowment, by an 06 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 07 four-year college accredited by a regional accreditation association; 08 (2) for secondary school level vocational education courses and [,] 09 programs [, AND FACILITIES] by a school district in the state; and 10 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 11 AND FACILITIES] by a state-operated vocational technical education and training 12 school [; AND 13 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 14 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 15 REGIONAL ACCREDITATION ASSOCIATION]. 16  * Sec. 4. AS 21.89.070(b) is amended to read: 17 (b) The amount of the credit is [THE LESSER OF 18 (1)] an amount equal to 19 (1) [(A)] 50 percent of contributions of not more than $100,000; 20 (2) [AND (B)] 100 percent of the next $200,000 [$100,000] of 21 contributions; and  22 (3) 50 percent of the amount of contributions that exceed $300,000 23 [OR 24 (2) 50 PERCENT OF THE TAXPAYER'S TAX LIABILITY UNDER 25 THIS TITLE]. 26  * Sec. 5. AS 21.89.070(b), as amended by sec. 4 of this Act, is amended to read: 27 (b) The amount of the credit is the lesser of  28 (1) an amount equal to 29 (A) [(1)] 50 percent of contributions of not more than 30 $100,000; and  31 (B) [(2)] 100 percent of the next $100,000 [$200,000] of 01 contributions; or  02 (2) 50 percent of the taxpayer's tax liability under this title [AND  03 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 04 EXCEED $300,000]. 05  * Sec. 6. AS 21.89.070(d) is amended to read: 06 (d) A contribution claimed as a credit under this section may not 07 (1) be the basis for a credit claimed [AS A CREDIT] under more 08 than one provision of this title; and 09 (2) when combined with contributions that are the basis for credits 10 taken during the taxpayer's tax year under AS 21.89.075, AS 43.20.014, 11 AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in  12 the total amount of credits exceeding $25,000,000 [EXCEED $150,000]. 13  * Sec. 7. AS 21.89.070(d), as amended by sec. 6 of this Act, is amended to read: 14 (d) A contribution claimed as a credit under this section may not 15 (1) be the basis for a credit claimed under more than one provision of 16 this title; and 17 (2) when combined with contributions that are the basis for credits 18 taken during the taxpayer's tax year under AS 21.89.075, AS 43.20.014, 19 AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in 20 the total amount of credits exceeding $150,000 [$25,000,000]. 21  * Sec. 8. AS 21.89.070 is amended by adding a new subsection to read: 22 (f) The credit under this section may not reduce a person's tax liability under 23 AS 21.09.210 or AS 21.66.110 to below zero for any tax year. An unused credit or 24 portion of a credit not used under this section for a tax year may not be sold, traded, 25 transferred, or applied in a subsequent tax year. 26  * Sec. 9. AS 21.89.075(c) is amended to read: 27 (c) A contribution claimed by a taxpayer as a credit under this section may not 28 (1) be the basis for a credit claimed [AS A CREDIT] under more 29 than one provision of this title; 30 (2) when combined with contributions that are the basis for credits 31 taken during the taxpayer's tax year under AS 21.89.070, AS 43.20.014, 01 AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in  02 the total amount of credits exceeding $25,000,000 [EXCEED $150,000]; or 03 (3) be claimed as a credit unless the contribution qualifies for the credit 04 under (d) of this section. 05  * Sec. 10. AS 21.89.075(c), as amended by sec. 9 of this Act, is amended to read: 06 (c) A contribution claimed by a taxpayer as a credit under this section may not 07 (1) be the basis for a credit claimed under more than one provision of 08 this title; 09 (2) when combined with contributions that are the basis for credits 10 taken during the taxpayer's tax year under AS 21.89.070, AS 43.20.014, 11 AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in 12 the total amount of credits exceeding $150,000 [$25,000,000]; or 13 (3) be claimed as a credit unless the contribution qualifies for the credit 14 under (d) of this section. 15  * Sec. 11. AS 21.89.075 is amended by adding a new subsection to read: 16 (f) The credit under this section may not reduce a person's tax liability under 17 AS 21.09.210 to below zero for any tax year. An unused credit or portion of a credit 18 not used under this section for a calendar year may not be sold, traded, transferred, or 19 applied in a subsequent calendar year. 20  * Sec. 12. AS 43.05.010 is amended to read: 21 Sec. 43.05.010. Duties of commissioner. The commissioner of revenue shall 22 (1) exercise general supervision and direct the activities of the 23 Department of Revenue; 24 (2) supervise the fiscal affairs and responsibilities of the department; 25 (3) prescribe uniform rules for investigations and hearings; 26 (4) keep a record of all departmental proceedings, record and file all 27 bonds, and assume custody of returns, reports, papers, and documents of the 28 department; 29 (5) adopt a seal and affix it to each order, process, or certificate issued 30 by the commissioner; 31 (6) keep a record of each order, process, and certificate issued by the 01 commissioner, and keep the record open to public inspection at all reasonable times; 02 (7) hold hearings and investigations necessary for the administration of 03 state tax and revenue laws; 04 (8) except as provided in AS 43.05.405 - 43.05.499 and in 05 AS 44.64.030, hear and determine appeals of a matter within the jurisdiction of the 06 Department of Revenue and enter orders on the appeals that are final unless reversed 07 or modified by the courts; 08 (9) issue subpoenas to require the attendance of witnesses and the 09 production of necessary books, papers, documents, correspondence, and other things; 10 (10) order the taking of depositions before a person competent to 11 administer oaths; 12 (11) administer oaths and take acknowledgments; 13 (12) request the attorney general for rulings on the interpretation of the 14 tax and revenue laws administered by the department; 15 (13) call upon the attorney general to institute actions for recovery of 16 unpaid taxes, fees, excises, additions to tax, penalties, and interest; 17 (14) issue warrants for the collection of unpaid tax penalties and 18 interest and take all steps necessary and proper to enforce full and complete 19 compliance with the tax, license, excise, and other revenue laws of the state; 20 (15) report to the legislature before February 15 of each year the  21 total amount of contributions reported and the total amount of credit claimed  22 during the previous calendar year under AS 43.20.014, AS 43.55.019,  23 AS 43.56.018, AS 43.65.018, AS 43.75.018, and AS 43.77.045 [REPEALED]. 24  * Sec. 13. AS 43.20.014(a) is amended to read: 25 (a) A taxpayer is allowed a credit against the tax due under this chapter for 26 cash contributions accepted 27 (1) for direct instruction, research, and educational support purposes, 28 including library and museum acquisitions, and contributions to endowment, by an 29 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 30 four-year college accredited by a regional accreditation association; 31 (2) for secondary school level vocational education courses, [AND] 01 programs, and facilities by a school district in the state; [AND] 02 (3) for vocational education courses, programs, and facilities by a 03 state-operated vocational technical education and training school; and  04 (4) for a facility by a nonprofit, public or private, Alaska two-year  05 or four-year college accredited by a regional accreditation association. 06  * Sec. 14. AS 43.20.014(a), as amended by sec. 13 of this Act, is amended to read: 07 (a) A taxpayer is allowed a credit against the tax due under this chapter for 08 cash contributions accepted 09 (1) for direct instruction, research, and educational support purposes, 10 including library and museum acquisitions, and contributions to endowment, by an 11 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 12 four-year college accredited by a regional accreditation association; 13 (2) for secondary school level vocational education courses and [,] 14 programs [, AND FACILITIES] by a school district in the state; and 15 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 16 AND FACILITIES] by a state-operated vocational technical education and training 17 school [; AND 18 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 19 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 20 REGIONAL ACCREDITATION ASSOCIATION]. 21  * Sec. 15. AS 43.20.014(b) is amended to read: 22 (b) The amount of the credit is 23 (1) 50 percent of contributions of not more than $100,000; [AND] 24 (2) 100 percent of the next $200,000 [$100,000] of contributions; and  25 (3) 50 percent of the amount of contributions that exceed $300,000. 26  * Sec. 16. AS 43.20.014(b), as amended by sec. 15 of this Act, is amended to read: 27 (b) The amount of the credit is 28 (1) 50 percent of contributions of not more than $100,000; and 29 (2) 100 percent of the next $100,000 [$200,000] of contributions [; 30 AND 31 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 01 EXCEED $300,000].  02  * Sec. 17. AS 43.20.014(d) is amended to read: 03 (d) A contribution claimed as a credit under this section may not 04 (1) be the basis for a credit claimed [AS A CREDIT] under another 05 provision of this title; 06 (2) also be allowed as a deduction under 26 U.S.C. 170 against the tax 07 imposed by this chapter; and 08 (3) when combined with contributions that are the basis for credits 09 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.55.019, 10 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total  11 amount of credits exceeding $25,000,000 [EXCEED $150,000]. 12  * Sec. 18. AS 43.20.014(d), as amended by sec. 17 of this Act, is amended to read: 13 (d) A contribution claimed as a credit under this section may not 14 (1) be the basis for a credit claimed under another provision of this 15 title; 16 (2) also be allowed as a deduction under 26 U.S.C. 170 against the tax 17 imposed by this chapter; and 18 (3) when combined with contributions that are the basis for credits 19 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.55.019, 20 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 21 amount of credits exceeding $150,000 [$25,000,000]. 22  * Sec. 19. AS 43.20.014 is amended by adding a new subsection to read: 23 (f) The credit under this section may not reduce a person's tax liability under 24 this chapter to below zero for any tax year. An unused credit or portion of a credit not 25 used under this section for a tax year may not be sold, traded, transferred, or applied in 26 a subsequent tax year. 27  * Sec. 20. AS 43.55.019(a) is amended to read: 28 (a) A producer of oil or gas is allowed a credit against the tax due under this 29 chapter for cash contributions accepted  30 (1) for direct instruction, research, and educational support purposes, 31 including library and museum acquisitions, and contributions to endowment, by an 01 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 02 four-year college accredited by a regional accreditation association; 03 (2) for secondary school level vocational education courses, [AND] 04 programs, and facilities by a school district in the state; [AND] 05 (3) for vocational education courses, programs, and facilities by a 06 state-operated vocational technical education and training school; and  07 (4) for a facility by a nonprofit, public or private, Alaska two-year  08 or four-year college accredited by a regional accreditation association. 09  * Sec. 21. AS 43.55.019(a), as amended by sec. 20 of this Act, is amended to read: 10 (a) A producer of oil or gas is allowed a credit against the tax due under this 11 chapter for cash contributions accepted 12 (1) for direct instruction, research, and educational support purposes, 13 including library and museum acquisitions, and contributions to endowment, by an 14 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 15 four-year college accredited by a regional accreditation association; 16 (2) for secondary school level vocational education courses and [,] 17 programs [, AND FACILITIES] by a school district in the state; and 18 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 19 AND FACILITIES] by a state-operated vocational technical education and training 20 school [; AND 21 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 22 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 23 REGIONAL ACCREDITATION ASSOCIATION]. 24  * Sec. 22. AS 43.55.019(b) is amended to read: 25 (b) The amount of the credit is 26 (1) 50 percent of contributions of not more than $100,000; [AND] 27 (2) 100 percent of the next $200,000 [$100,000] of contributions; and  28 (3) 50 percent of the amount of contributions that exceed $300,000. 29  * Sec. 23. AS 43.55.019(b), as amended by sec. 22 of this Act, is amended to read: 30 (b) The amount of the credit is 31 (1) 50 percent of contributions of not more than $100,000; and 01 (2) 100 percent of the next $100,000 [$200,000] of contributions [; 02 AND 03 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 04 EXCEED $300,000]. 05  * Sec. 24. AS 43.55.019(d) is amended to read: 06 (d) A contribution claimed as a credit under this section may not 07 (1) be the basis for a credit claimed [AS A CREDIT] under another 08 provision of this title; and 09 (2) when combined with contributions that are the basis for credits 10 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 11 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total  12 amount of credits exceeding $25,000,000 [EXCEED $150,000]. 13  * Sec. 25. AS 43.55.019(d), as amended by sec. 24 of this Act, is amended to read: 14 (d) A contribution claimed as a credit under this section may not 15 (1) be the basis for a credit claimed under another provision of this 16 title; and 17 (2) when combined with contributions that are the basis for credits 18 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 19 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 20 amount of credits exceeding $150,000 [$25,000,000]. 21  * Sec. 26. AS 43.55.019 is amended by adding a new subsection to read: 22 (f) The credit under this section may not reduce a person's tax liability under 23 this chapter to below zero for any tax year. An unused credit or portion of a credit not 24 used under this section for a tax year may not be sold, traded, transferred, or applied in 25 a subsequent tax year. 26  * Sec. 27. AS 43.56.018(a) is amended to read: 27 (a) The owner of property taxable under this chapter is allowed a credit 28 against the tax due under this chapter for cash contributions accepted  29 (1) for direct instruction, research, and educational support purposes, 30 including library and museum acquisitions, and contributions to endowment, by an 31 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 01 four-year college accredited by a regional accreditation association; 02 (2) for secondary school level vocational education courses, [AND] 03 programs, and facilities by a school district in the state; [AND] 04 (3) for vocational education courses, programs, and facilities by a 05 state-operated vocational technical education and training school; and  06 (4) for a facility by a nonprofit, public or private, Alaska two-year  07 or four-year college accredited by a regional accreditation association. 08  * Sec. 28. AS 43.56.018(a), as amended by sec. 27 of this Act, is amended to read: 09 (a) The owner of property taxable under this chapter is allowed a credit 10 against the tax due under this chapter for cash contributions accepted 11 (1) for direct instruction, research, and educational support purposes, 12 including library and museum acquisitions, and contributions to endowment, by an 13 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 14 four-year college accredited by a regional accreditation association; 15 (2) for secondary school level vocational education courses and [,] 16 programs [, AND FACILITIES] by a school district in the state; and 17 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 18 AND FACILITIES] by a state-operated vocational technical education and training 19 school [; AND 20 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 21 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 22 REGIONAL ACCREDITATION ASSOCIATION]. 23  * Sec. 29. AS 43.56.018(b) is amended to read: 24 (b) The amount of the credit is 25 (1) 50 percent of contributions of not more than $100,000; [AND] 26 (2) 100 percent of the next $200,000 [$100,000] of contributions; and  27 (3) 50 percent of the amount of contributions that exceed $300,000. 28  * Sec. 30. AS 43.56.018(b), as amended by sec. 29 of this Act, is amended to read: 29 (b) The amount of the credit is 30 (1) 50 percent of contributions of not more than $100,000; and 31 (2) 100 percent of the next $100,000 [$200,000] of contributions [; 01 AND 02 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 03 EXCEED $300,000].  04  * Sec. 31. AS 43.56.018(d) is amended to read: 05 (d) A contribution claimed as a credit under this section may not 06 (1) be the basis for a credit claimed [AS A CREDIT] under another 07 provision of this title; and 08 (2) when combined with contributions that are the basis for credits 09 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 10 AS 43.55.019, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total  11 amount of credits exceeding $25,000,000 [EXCEED $150,000]. 12  * Sec. 32. AS 43.56.018(d), as amended by sec. 31 of this Act, is amended to read: 13 (d) A contribution claimed as a credit under this section may not 14 (1) be the basis for a credit claimed under another provision of this 15 title; and 16 (2) when combined with contributions that are the basis for credits 17 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 18 AS 43.55.019, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 19 amount of credits exceeding $150,000 [$25,000,000]. 20  * Sec. 33. AS 43.56.018 is amended by adding a new subsection to read: 21 (f) The credit under this section may not reduce a person's tax liability under 22 this chapter to below zero for any tax year. An unused credit or portion of a credit not 23 used under this section for a tax year may not be sold, traded, transferred, or applied in 24 a subsequent tax year. 25  * Sec. 34. AS 43.65.018(a) is amended to read: 26 (a) A person engaged in the business of mining in the state is allowed a credit 27 against the tax due under this chapter for cash contributions accepted  28 (1) for direct instruction, research, and educational support purposes, 29 including library and museum acquisitions, and contributions to endowment, by an 30 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 31 four-year college accredited by a regional accreditation association; 01 (2) for secondary school level vocational education courses, [AND] 02 programs, and facilities by a school district in the state; [AND] 03 (3) for vocational education courses, programs, and facilities by a 04 state-operated vocational technical education and training school; and  05 (4) for a facility by a nonprofit, public or private, Alaska two-year  06 or four-year college accredited by a regional accreditation association. 07  * Sec. 35. AS 43.65.018(a), as amended by sec. 34 of this Act, is amended to read: 08 (a) A person engaged in the business of mining in the state is allowed a credit 09 against the tax due under this chapter for cash contributions accepted 10 (1) for direct instruction, research, and educational support purposes, 11 including library and museum acquisitions, and contributions to endowment, by an 12 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 13 four-year college accredited by a regional accreditation association; 14 (2) for secondary school level vocational education courses and [,] 15 programs [, AND FACILITIES] by a school district in the state; and 16 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 17 AND FACILITIES] by a state-operated vocational technical education and training 18 school [; AND 19 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 20 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 21 REGIONAL ACCREDITATION ASSOCIATION]. 22  * Sec. 36. AS 43.65.018(b) is amended to read: 23 (b) The amount of the credit is 24 (1) 50 percent of contributions of not more than $100,000; [AND] 25 (2) 100 percent of the next $200,000 [$100,000] of contributions; and  26 (3) 50 percent of the amount of contributions that exceed $300,000. 27  * Sec. 37. AS 43.65.018(b), as amended by sec. 36 of this Act, is amended to read: 28 (b) The amount of the credit is 29 (1) 50 percent of contributions of not more than $100,000; and 30 (2) 100 percent of the next $100,000 [$200,000] of contributions [; 31 AND 01 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 02 EXCEED $300,000]. 03  * Sec. 38. AS 43.65.018(d) is amended to read: 04 (d) A contribution claimed as a credit under this section may not 05 (1) be the basis for a credit claimed [AS A CREDIT] under another 06 provision of this title; and 07 (2) when combined with contributions that are the basis for credits 08 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 09 AS 43.55.019, AS 43.56.018, AS 43.75.018, or AS 43.77.045, result in the total  10 amount of the credits exceeding $25,000,000 [EXCEED $150,000]. 11  * Sec. 39. AS 43.65.018(d), as amended by sec. 38 of this Act, is amended to read: 12 (d) A contribution claimed as a credit under this section may not 13 (1) be the basis for a credit claimed under another provision of this 14 title; and 15 (2) when combined with contributions that are the basis for credits 16 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 17 AS 43.55.019, AS 43.56.018, AS 43.75.018, or AS 43.77.045, result in the total 18 amount of the credits exceeding $150,000 [$25,000,000]. 19  * Sec. 40. AS 43.65.018 is amended by adding a new subsection to read: 20 (f) The credit under this section may not reduce a person's tax liability under 21 this chapter to below zero for any tax year. An unused credit or portion of a credit not 22 used under this section for a tax year may not be sold, traded, transferred, or applied in 23 a subsequent tax year. 24  * Sec. 41. AS 43.75.018(a) is amended to read: 25 (a) A person engaged in a fisheries business is allowed a credit against the tax 26 due under this chapter for cash contributions accepted  27 (1) for direct instruction, research, and educational support purposes, 28 including library and museum acquisitions, and contributions to endowment, by an 29 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 30 four-year college accredited by a regional accreditation association; 31 (2) for secondary school level vocational education courses, [AND] 01 programs, and facilities by a school district in the state; [AND] 02 (3) for vocational education courses, programs, and facilities by a 03 state-operated vocational technical education and training school; and  04 (4) for a facility by a nonprofit, public or private, Alaska two-year  05 or four-year college accredited by a regional accreditation association. 06  * Sec. 42. AS 43.75.018(a), as amended by sec. 41 of this Act, is amended to read: 07 (a) A person engaged in a fisheries business is allowed a credit against the tax 08 due under this chapter for cash contributions accepted 09 (1) for direct instruction, research, and educational support purposes, 10 including library and museum acquisitions, and contributions to endowment, by an 11 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 12 four-year college accredited by a regional accreditation association; 13 (2) for secondary school level vocational education courses and [,] 14 programs [, AND FACILITIES] by a school district in the state; and 15 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 16 AND FACILITIES] by a state-operated vocational technical education and training 17 school [; AND 18 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 19 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 20 REGIONAL ACCREDITATION ASSOCIATION]. 21  * Sec. 43. AS 43.75.018(b) is amended to read: 22 (b) The amount of the credit is 23 (1) 50 percent of contributions of not more than $100,000; [AND] 24 (2) 100 percent of the next $200,000 [$100,000] of contributions; and  25 (3) 50 percent of the amount of contributions that exceed $300,000. 26  * Sec. 44. AS 43.75.018(b), as amended by sec. 43 of this Act, is amended to read: 27 (b) The amount of the credit is 28 (1) 50 percent of contributions of not more than $100,000; and 29 (2) 100 percent of the next $100,000 [$200,000] of contributions [; 30 AND 31 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 01 EXCEED $300,000].  02  * Sec. 45. AS 43.75.018(d) is amended to read: 03 (d) A contribution claimed as a credit under this section may not 04 (1) be the basis for a credit claimed [AS A CREDIT] under another 05 provision of this title; and 06 (2) when combined with contributions that are the basis for credits 07 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 08 AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.77.045, result in the total  09 amount of the credits exceeding $25,000,000 [EXCEED $150,000]. 10  * Sec. 46. AS 43.75.018(d), as amended by sec. 45 of this Act, is amended to read: 11 (d) A contribution claimed as a credit under this section may not 12 (1) be the basis for a credit claimed under another provision of this 13 title; and 14 (2) when combined with contributions that are the basis for credits 15 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 16 AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.77.045, result in the total 17 amount of the credits exceeding $150,000 [$25,000,000]. 18  * Sec. 47. AS 43.75.018 is amended by adding a new subsection to read: 19 (f) The credit under this section may not reduce a person's tax liability under 20 this chapter to below zero for any tax year. An unused credit or portion of a credit not 21 used under this section for a tax year may not be sold, traded, transferred, or applied in 22 a subsequent tax year. 23  * Sec. 48. AS 43.77.045(a) is amended to read: 24 (a) In addition to the credit allowed under AS 43.77.040, a person engaged in 25 a floating fisheries business is allowed a credit against the tax due under this chapter 26 for cash contributions accepted  27 (1) for direct instruction, research, and educational support purposes, 28 including library and museum acquisitions, and contributions to endowment, by an 29 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 30 four-year college accredited by a regional accreditation association; 31 (2) for secondary school level vocational education courses, [AND] 01 programs, and facilities by a school district in the state; [AND] 02 (3) for vocational education courses, programs, and facilities by a 03 state-operated vocational technical education and training school; and  04 (4) for a facility by a nonprofit, public or private, Alaska two-year  05 or four-year college accredited by a regional accreditation association. 06  * Sec. 49. AS 43.77.045(a), as amended by sec. 48 of this Act, is amended to read: 07 (a) In addition to the credit allowed under AS 43.77.040, a person engaged in 08 a floating fisheries business is allowed a credit against the tax due under this chapter 09 for cash contributions accepted 10 (1) for direct instruction, research, and educational support purposes, 11 including library and museum acquisitions, and contributions to endowment, by an 12 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 13 four-year college accredited by a regional accreditation association; 14 (2) for secondary school level vocational education courses and [,] 15 programs [, AND FACILITIES] by a school district in the state; and 16 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 17 AND FACILITIES] by a state-operated vocational technical education and training 18 school [; AND 19 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 20 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 21 REGIONAL ACCREDITATION ASSOCIATION]. 22  * Sec. 50. AS 43.77.045(b) is amended to read: 23 (b) The amount of the credit is 24 (1) 50 percent of contributions of not more than $100,000; [AND] 25 (2) 100 percent of the next $200,000 [$100,000] of contributions; and  26 (3) 50 percent of the amount of contributions that exceed $300,000. 27  * Sec. 51. AS 43.77.045(b), as amended by sec. 50 of this Act, is amended to read: 28 (b) The amount of the credit is 29 (1) 50 percent of contributions of not more than $100,000; and 30 (2) 100 percent of the next $100,000 [$200,000] of contributions [; 31 AND 01 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 02 EXCEED $300,000].  03  * Sec. 52. AS 43.77.045(d) is amended to read: 04 (d) A contribution claimed as a credit under this section may not 05 (1) be the basis for a credit claimed [AS A CREDIT] under another 06 provision of this title; and 07 (2) when combined with contributions that are the basis for credits 08 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 09 AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.75.018, result in the total  10 amount of the credits exceeding $25,000,000 [EXCEED $150,000]. 11  * Sec. 53. AS 43.77.045(d), as amended by sec. 52 of this Act, is amended to read: 12 (d) A contribution claimed as a credit under this section may not 13 (1) be the basis for a credit claimed under another provision of this 14 title; and 15 (2) when combined with contributions that are the basis for credits 16 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 17 AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.75.018, result in the total 18 amount of the credits exceeding $150,000 [$25,000,000]. 19  * Sec. 54. AS 43.77.045 is amended by adding a new subsection to read: 20 (f) The credit under this section may not reduce a person's tax liability under 21 this chapter to below zero for any tax year. An unused credit or portion of a credit not 22 used under this section for a tax year may not be sold, traded, transferred, or applied in 23 a subsequent tax year. 24  * Sec. 55. AS 21.06.110(9); AS 21.89.070(f), 21.89.075(f); AS 43.05.010(15); 25 AS 43.20.014(f); AS 43.55.019(f); AS 43.56.018(f); AS 43.65.018(f); AS 43.75.018(f); and 26 AS 43.77.045(f) are repealed. 27  * Sec. 56. Sections 1, 2, 4, 6, 8, 9, 11 - 13, 15, 17, 19, 20, 22, 24, 26, 27, 29, 31, 33, 34, 36, 28 38, 40, 41, 43, 45, 47, 48, 50, 52, and 54 of this Act take effect January 1, 2011. 29  * Sec. 57. Except as provided in sec. 56 of this Act, this Act takes effect January 1, 2014.