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HB 269: "An Act relating to credits against certain taxes for contributions to certain public educational radio and television networks and stations and to endowments for public educational radio and television networks; and providing for an effective date."

00 HOUSE BILL NO. 269                                                                                                      
01 "An Act relating to credits against certain taxes for contributions to certain public                                   
02 educational radio and television networks and stations and to endowments for                                            
03 public educational radio and television networks; and providing for an effective                                        
04 date."                                                                                                                  
05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
06    * Section 1.  PURPOSE.  This Act amends and extends the credits authorized by ch. 58,                                
07 SLA 1987, ch. 71, SLA 1991, and ch. 21, SLA 1994, against each of the following state taxes                             
08 for contributions made to instate public educational radio and television networks and stations                         
09 and to endowments established to benefit those public educational radio and television                                  
10 stations:                                                                                                               
11   (1)  Alaska Net Income Tax (AS 43.20);                                                                                
12   (2)  Oil and Gas Properties Production Tax (AS 43.55);                                                                
13   (3)  Oil and Gas Exploration, Production, and Pipeline Transportation Property                                        
14 Tax (AS 43.56);                                                                                                         
01   (4)  Mining License Tax (AS 43.65);                                                                                   
02   (5)  Fisheries Taxes (AS 43.75).                                                                                      
03    * Sec. 2.  AS 43.20.014(a) is amended to read:                                                                       
04  (a)  Subject to (d) of this section, for [FOR] cash contributions accepted for                                      
05 direct instruction, research, and educational support purposes, including library and                                   
06 museum acquisitions, and contributions to endowment, by an Alaska university                                            
07 foundation or by a nonprofit, public or private, Alaska two-year or four-year college                                   
08 accredited by a regional accreditation association, and for contributions accepted by                                  
09 a nonprofit, noncommercial public Alaska educational radio or television network                                        
10 or station and contributions to endowments established to benefit those stations,                                      
11 a taxpayer is allowed as a credit against the tax due under this chapter                                                
12   (1)  50 percent of contributions of not more than $100,000; and                                                      
13  (2)  100 percent of the next $400,000 [$100,000] of contributions.                                                 
14    * Sec. 3.  AS 43.20.014(d) is amended to read:                                                                       
15  (d)  In each tax year, contributions [A CONTRIBUTION] claimed as a credit                                           
16 under this section                                                                                                      
17   (1)  may not be claimed as a credit under another provision of this title;                                           
18   (2)  may not also be allowed as a deduction under 26 U.S.C. 170 against                                              
19 the tax imposed by this chapter; and                                                                                    
20   (3)  may not, when combined with credits taken during the taxpayer's                                                 
21 tax year under AS 21.89.070, AS 43.55.019, AS 43.56.018, AS 43.65.018, or                                               
22 AS 43.75.018, exceed $450,000 [$150,000].                                                                             
23    * Sec. 4.  AS 43.55.019(a) is amended to read:                                                                       
24  (a)  Subject to (d) of this section, for [FOR] cash contributions accepted for                                      
25 direct instruction, research, and educational support purposes, including library and                                   
26 museum acquisitions, and contributions to endowment, by an Alaska university                                            
27 foundation or by a nonprofit, public or private, Alaska two-year or four-year college                                   
28 accredited by a regional accreditation association, and for contributions accepted by                                  
29 a nonprofit, noncommercial public Alaska educational radio or television network                                        
30 or station and contributions to endowments established to benefit those stations,                                      
31 a producer of oil or gas is allowed as a credit against the tax due under this chapter                                  
01   (1)  50 percent of contributions of not more than $100,000; and                                                      
02   (2)  100 percent of the next $400,000 [$100,000] of contributions.                                                 
03    * Sec. 5.  AS 43.55.019(d) is amended to read:                                                                       
04  (d)  In each tax year, contributions [A CONTRIBUTION] claimed as a credit                                           
05 under this section may not                                                                                              
06   (1)  be claimed as a credit under another provision of this title; and                                               
07   (2)  when combined with credits taken during the taxpayer's tax year                                                 
08 under AS 21.89.070, AS 43.20.014, AS 43.56.018, AS 43.65.018, or AS 43.75.018,                                          
09 exceed $450,000 [$150,000].                                                                                           
10    * Sec. 6.  AS 43.56.018(a) is amended to read:                                                                       
11  (a)  Subject to (d) of this section, for [FOR] cash contributions accepted for                                      
12 direct instruction, research, and educational support purposes, including library and                                   
13 museum acquisitions, and contributions to endowment, by an Alaska university                                            
14 foundation or by a nonprofit, public or private, Alaska two-year or four-year college                                   
15 accredited by a regional accreditation association, and for contributions accepted by                                  
16 a nonprofit, noncommercial public Alaska educational radio or television network                                        
17 or station and contributions to endowments established to benefit those stations,                                      
18 the owner of property taxable under this chapter is allowed as a credit against the tax                                 
19 due under this chapter                                                                                                  
20   (1)  50 percent of contributions of not more than $100,000; and                                                      
21   (2)  100 percent of the next $400,000 [$100,000] of contributions.                                                 
22    * Sec. 7.  AS 43.56.018(d) is amended to read:                                                                       
23  (d)  In each tax year, contributions [A CONTRIBUTION] claimed as a credit                                           
24 under this section may not                                                                                              
25   (1)  be claimed as a credit under another provision of this title; and                                               
26   (2)  when combined with credits taken during the taxpayer's tax year                                                 
27 under AS 21.89.070, AS 43.20.014, AS 43.55.019, AS 43.65.018, or AS 43.75.018,                                          
28 exceed $450,000 [$150,000].                                                                                           
29    * Sec. 8.  AS 43.65.018(a) is amended to read:                                                                       
30  (a)  Subject to (d) of this section, for [FOR] cash contributions accepted for                                      
31 direct instruction, research, and educational support purposes, including library and                                   
01 museum acquisitions, and contributions to endowment, by an Alaska university                                            
02 foundation or by a nonprofit, public or private, Alaska two-year or four-year college                                   
03 accredited by a regional accreditation association, and for contributions accepted by                                  
04 a nonprofit, noncommercial public Alaska educational radio or television network                                        
05 or station and contributions to endowments established to benefit those stations,                                      
06 a person engaged in the business of mining in the state is allowed as a credit against                                  
07 the tax due under this chapter                                                                                          
08   (1)  50 percent of contributions of not more than $100,000; and                                                      
09  (2)  100 percent of the next $400,000 [$100,000] of contributions.                                                 
10    * Sec. 9.  AS 43.65.018(d) is amended to read:                                                                       
11  (d)  In each tax year, contributions [A CONTRIBUTION] claimed as a credit                                           
12 under this section may not                                                                                              
13   (1)  be claimed as a credit under another provision of this title; and                                               
14   (2)  when combined with credits taken during the taxpayer's tax year                                                 
15 under AS 21.89.070, AS 43.20.014, AS 43.55.019, AS 43.56.018, or AS 43.75.018,                                          
16 exceed $450,000 [$150,000].                                                                                           
17    * Sec. 10.  AS 43.75.018(a) is amended to read:                                                                      
18  (a)  Subject to (d) of this section, for [FOR] cash contributions accepted for                                      
19 direct instruction, research, and educational support purposes, including library and                                   
20 museum acquisitions, and contributions to endowment, by an Alaska university                                            
21 foundation or by a nonprofit, public or private, Alaska two-year or four-year college                                   
22 accredited by a regional accreditation association, and for contributions accepted by                                  
23 a nonprofit, noncommercial public Alaska educational radio or television network                                        
24 or station and contributions to endowments established to benefit those stations,                                      
25 a person engaged in a fisheries business is allowed as a credit against the tax due                                     
26 under this chapter                                                                                                      
27   (1)  50 percent of contributions of not more than $100,000; and                                                      
28  (2)  100 percent of the next $400,000 [$100,000] of contributions.                                                 
29    * Sec. 11.  AS 43.75.018(d) is amended to read:                                                                      
30  (d)  In each tax year, contributions [A CONTRIBUTION] claimed as a credit                                           
31 under this section may not                                                                                              
01   (1)  be claimed as a credit under another provision of this title; and                                               
02   (2)  when combined with credits taken during the taxpayer's tax year                                                 
03 under AS 21.89.070, AS 43.20.014, AS 43.55.019, AS 43.56.018, or AS 43.65.018,                                          
04 exceed $450,000 [$150,000].                                                                                           
05    * Sec. 12. This Act applies to tax years beginning after the December 31 that precedes the                           
06 effective date of this Act.                                                                                             
07    * Sec. 13.  This Act takes effect January 1, 1996.