CSSB 311(FIN): "An Act authorizing a credit against the fishery resource landing tax for certain contributions made by taxpayers not harvesting fisheries resources under a community development quota and for contributions based on fishery resources not harvested under a quota made by taxpayers harvesting fisheries resources under a community development quota, amending the manner of calculating the amount available for revenue sharing by operation of this credit, providing for predetermination of credit applications under that tax, and amending the fishery resource landing tax to eliminate claim of the credit for contributions of capital; and providing for an effective date."
00CS FOR SENATE BILL NO. 311(FIN) 01 "An Act authorizing a credit against the fishery resource landing tax for certain 02 contributions made by taxpayers not harvesting fisheries resources under a 03 community development quota and for contributions based on fishery resources 04 not harvested under a quota made by taxpayers harvesting fisheries resources 05 under a community development quota, amending the manner of calculating the 06 amount available for revenue sharing by operation of this credit, providing for 07 predetermination of credit applications under that tax, and amending the fishery 08 resource landing tax to eliminate claim of the credit for contributions of capital; 09 and providing for an effective date." 10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 11 * Section 1. AS 43.77.040(a) is amended to read: 12 (a) A taxpayer who harvests a fishery resource under the provisions of a 13 community development quota may claim as a credit, against not more than 45.45 14 percent of the tax under this chapter that is due on the value of the fishery resource
01 harvested under the community development quota, the taxpayer's contributions made 02 during the tax year to a nonprofit corporation incorporated under the laws of the state 03 that are used by the recipient for one or more of the following purposes: 04 (1) scholarships for study in the state in the disciplines of fisheries 05 management, fisheries business administration, or another related course or discipline; 06 (2) training in the state for employment in the seafood industry; 07 (3) [MAKING CONTRIBUTIONS OF CAPITAL, IN THE FORM OF 08 LOANS OR GRANTS, TO CONSTRUCT OR IMPROVE 09 (A) TRANSPORTATION FACILITIES IN THE STATE SUCH 10 AS AIRPORTS AND DOCKS THAT ARE USED FOR THE UNLOADING, 11 TRANSFERRING, OR SHIPMENT OF FISHERIES PRODUCTS; OR 12 (B) FACILITIES IN THE STATE AT WHICH FISHERIES 13 PRODUCTS ARE CANNED, FROZEN, OR OTHERWISE PROCESSED FOR 14 INVENTORY, INCLUDING FLOATING FACILITIES THAT ARE 15 DOCUMENTED UNDER THE LAWS OF THE UNITED STATES AS 16 DEFINED IN 46 U.S.C. APP. 801; 17 (4)] awarding grants for research projects relating to Alaska fisheries. 18 * Sec. 2. AS 43.77.040(b) is amended to read: 19 (b) A taxpayer who makes a contribution that qualifies for the credit 20 authorized by (a) or (e) of this section must apply to obtain the credit. The taxpayer 21 shall apply to the department in the manner provided by the department by regulation, 22 and shall provide to the commissioner all information relating to the contribution that 23 may be required by the department. Upon receipt of a complete application, the 24 department, in consultation with the Department of Community and Regional Affairs, 25 shall approve or disapprove the application for the credit within 60 days. A nonprofit 26 corporation may apply to the department and request a written determination 27 that the intended use of contributions by the nonprofit corporation for a 28 specifically designated program satisfies one or more of the requirements of (a) 29 of this section. A written determination issued by the department to the nonprofit 30 corporation constitutes department approval under this section of contributions 31 by taxpayers to the corporation for the specifically designated program for which
01 the department's written determination was issued. 02 * Sec. 3. AS 43.77.040(c) is amended to read: 03 (c) The department shall revoke a prior approval of a tax credit and may not 04 allow a tax credit under this section if (1) the department determines that the 05 contribution does not qualify under (a) or (e) of this section; or (2) the taxpayer 06 claiming the credit is in arrears in the payment of a tax levied in this title. For 07 purposes of this subsection, a taxpayer is not in arrears if the payment is under 08 administrative or judicial appeal. 09 * Sec. 4. AS 43.77.040 is amended by adding a new subsection to read: 10 (e) Each of the following may claim as a credit, against not more than 13.65 11 percent of the tax under this chapter that is due on the value of the fishery resource 12 not harvested under a community development quota, the taxpayer's contributions 13 made during the tax year to a nonprofit corporation incorporated under the laws of the 14 state that are used by the recipient for one or more of the purposes set out in (a) of 15 this section: 16 (1) a taxpayer other than a taxpayer who is eligible for a credit under 17 (a) of this section; 18 (2) a taxpayer who is eligible for a credit under (a) of this section, but 19 the credit under this subsection may be claimed only from contributions that are made 20 from the value of the fishery resource that is not harvested under a community 21 development quota. 22 * Sec. 5. AS 43.77.050(b) is amended to read: 23 (b) After payment of the amount determined under (a) of this section, the 24 balance of the tax collected under this chapter shall be paid into a separate account in 25 the general fund. The annual balance in the account may be appropriated by the 26 legislature for revenue sharing under AS 43.77.060. Before making the payments 27 to municipalities authorized by AS 43.77.060, from amounts payable to 28 municipalities under AS 43.77.060(a) - (c) the commissioner shall deduct 29 (1) the entire [THE] amount of [ALL] tax credits authorized by 30 AS 43.77.040(a) that have been approved by the commissioner under 31 AS 43.77.040(b); and
01 (2) one-half of the amount of tax credits authorized by 02 AS 43.77.040(e) that have been approved by the commissioner under 03 AS 43.77.040(b) [SHALL BE DEDUCTED FROM AMOUNTS PAID TO 04 MUNICIPALITIES UNDER AS 43.77.060(a) - (c)]. 05 * Sec. 6. If this Act takes effect after July 1, 1994, this Act is retroactive to July 1, 1994. 06 * Sec. 7. This Act takes effect July 1, 1994, and applies to fishery resource landing taxes 07 paid after June 30, 1994.