SB 118: "An Act relating to credits against certain taxes for contributions to certain public educational radio and television networks and stations; and providing for an effective date."
00SENATE BILL NO. 118 01 "An Act relating to credits against certain taxes for contributions to certain public 02 educational radio and television networks and stations; and providing for an 03 effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. PURPOSE. This Act extends the credits authorized by ch. 58, SLA 1987, ch. 06 71, SLA 1991, and ch. 21, SLA 1994, against each of the following state taxes for 07 contributions made to instate public educational radio and television networks and stations: 08 (1) Alaska Net Income Tax (AS 43.20); 09 (2) Oil and Gas Properties Production Tax (AS 43.55); 10 (3) Oil and Gas Exploration, Production, and Pipeline Transportation Property 11 Tax (AS 43.56); 12 (4) Mining License Tax (AS 43.65); 13 (5) Fisheries Taxes (AS 43.75). 14 * Sec. 2. AS 43.20.014(a) is amended to read:
01 (a) Subject to (d) of this section, a taxpayer is allowed as a credit against 02 the tax due under this chapter the taxpayer's contributions as follows: 03 (1) for [FOR] cash contributions accepted for direct instruction, 04 research, and educational support purposes, including library and museum acquisitions, 05 and contributions to endowment, by an Alaska university foundation or by a nonprofit, 06 public or private, Alaska two-year or four-year college accredited by a regional 07 accreditation association, 08 (A) [A TAXPAYER IS ALLOWED AS A CREDIT AGAINST 09 THE TAX DUE UNDER THIS CHAPTER (1)] 50 percent of contributions 10 of not more than $100,000; and 11 (B) [(2)] 100 percent of the next $100,000 of contributions; and 12 (2) for contributions accepted by a nonprofit, noncommercial public 13 Alaska educational radio or television network or station, 50 percent of 14 contributions of not more than $100,000. 15 * Sec. 3. AS 43.20.014(d) is amended to read: 16 (d) In each tax year, contributions [A CONTRIBUTION] claimed as a credit 17 under this section 18 (1) may not be claimed as a credit under another provision of this title; 19 (2) may not also be allowed as a deduction under 26 U.S.C. 170 against 20 the tax imposed by this chapter; and 21 (3) may not, when combined with credits taken during the taxpayer's 22 tax year under AS 21.89.070, AS 43.55.019, AS 43.56.018, AS 43.65.018, or 23 AS 43.75.018, exceed $200,000 [$150,000]. 24 * Sec. 4. AS 43.55.019(a) is amended to read: 25 (a) Subject to (d) of this section, a producer of oil or gas is allowed as a 26 credit against the tax due under this chapter the producer's contributions as 27 follows: 28 (1) for [FOR] cash contributions accepted for direct instruction, 29 research, and educational support purposes, including library and museum acquisitions, 30 and contributions to endowment, by an Alaska university foundation or by a nonprofit, 31 public or private, Alaska two-year or four-year college accredited by a regional
01 accreditation association, 02 (A) [A PRODUCER OF OIL OR GAS IS ALLOWED AS A 03 CREDIT AGAINST THE TAX DUE UNDER THIS CHAPTER (1)] 50 04 percent of contributions of not more than $100,000; and 05 (B) [(2)] 100 percent of the next $100,000 of contributions; and 06 (2) for contributions accepted by a nonprofit, noncommercial public 07 Alaska educational radio or television network or station, 50 percent of 08 contributions of not more than $100,000. 09 * Sec. 5. AS 43.55.019(d) is amended to read: 10 (d) In each tax year, contributions [A CONTRIBUTION] claimed as a credit 11 under this section may not 12 (1) be claimed as a credit under another provision of this title; and 13 (2) when combined with credits taken during the taxpayer's tax year 14 under AS 21.89.070, AS 43.20.014, AS 43.56.018, AS 43.65.018, or AS 43.75.018, 15 exceed $200,000 [$150,000]. 16 * Sec. 6. AS 43.56.018(a) is amended to read: 17 (a) Subject to (d) of this section, the owner of property taxable under this 18 chapter is allowed as a credit against the tax due under this chapter the owner's 19 contribution as follows: 20 (1) for [FOR] cash contributions accepted for direct instruction, 21 research, and educational support purposes, including library and museum acquisitions, 22 and contributions to endowment, by an Alaska university foundation or by a nonprofit, 23 public or private, Alaska two-year or four-year college accredited by a regional 24 accreditation association, 25 (A) [THE OWNER OF PROPERTY TAXABLE UNDER THIS 26 CHAPTER IS ALLOWED AS A CREDIT AGAINST THE TAX DUE 27 UNDER THIS CHAPTER (1)] 50 percent of contributions of not more than 28 $100,000; and 29 (B) [(2)] 100 percent of the next $100,000 of contributions; and 30 (2) for contributions accepted by a nonprofit, noncommercial public 31 Alaska educational radio or television network or station, 50 percent of
01 contributions of not more than $100,000. 02 * Sec. 7. AS 43.56.018(d) is amended to read: 03 (d) In each tax year, contributions [A CONTRIBUTION] claimed as a credit 04 under this section may not 05 (1) be claimed as a credit under another provision of this title; and 06 (2) when combined with credits taken during the taxpayer's tax year 07 under AS 21.89.070, AS 43.20.014, AS 43.55.019, AS 43.65.018, or AS 43.75.018, 08 exceed $200,000 [$150,000]. 09 * Sec. 8. AS 43.65.018(a) is amended to read: 10 (a) Subject to (d) of this section, a person engaged in the business of 11 mining in the state is allowed as a credit against the tax due under this chapter 12 the contributions made by the person as follows: 13 (1) for [FOR] cash contributions accepted for direct instruction, 14 research, and educational support purposes, including library and museum acquisitions, 15 and contributions to endowment, by an Alaska university foundation or by a nonprofit, 16 public or private, Alaska two-year or four-year college accredited by a regional 17 accreditation association, 18 (A) [A PERSON ENGAGED IN THE BUSINESS OF MINING 19 IN THE STATE IS ALLOWED AS A CREDIT AGAINST THE TAX DUE 20 UNDER THIS CHAPTER (1)] 50 percent of contributions of not more than 21 $100,000; and 22 (B) [(2)] 100 percent of the next $100,000 of contributions; and 23 (2) for contributions accepted by a nonprofit, noncommercial public 24 Alaska educational radio or television network or station, 50 percent of 25 contributions of not more than $100,000. 26 * Sec. 9. AS 43.65.018(d) is amended to read: 27 (d) In each tax year, contributions [A CONTRIBUTION] claimed as a credit 28 under this section may not 29 (1) be claimed as a credit under another provision of this title; and 30 (2) when combined with credits taken during the taxpayer's tax year 31 under AS 21.89.070, AS 43.20.014, AS 43.55.019, AS 43.56.018, or AS 43.75.018,
01 exceed $200,000 [$150,000]. 02 * Sec. 10. AS 43.75.018(a) is amended to read: 03 (a) Subject to (d) of this section, a person engaged in a fisheries business 04 is allowed as a credit against the tax due under this chapter the contributions 05 made by the person as follows: 06 (1) for [FOR] cash contributions accepted for direct instruction, 07 research, and educational support purposes, including library and museum acquisitions, 08 and contributions to endowment, by an Alaska university foundation or by a nonprofit, 09 public or private, Alaska two-year or four-year college accredited by a regional 10 accreditation association, 11 (A) [A PERSON ENGAGED IN A FISHERIES BUSINESS IS 12 ALLOWED AS A CREDIT AGAINST THE TAX DUE UNDER THIS 13 CHAPTER (1)] 50 percent of contributions of not more than $100,000; and 14 (B) [(2)] 100 percent of the next $100,000 of contributions; and 15 (2) for contributions accepted by a nonprofit, noncommercial public 16 Alaska educational radio or television network or station, 50 percent of 17 contributions of not more than $100,000. 18 * Sec. 11. AS 43.75.018(d) is amended to read: 19 (d) In each tax year, contributions [A CONTRIBUTION] claimed as a credit 20 under this section may not 21 (1) be claimed as a credit under another provision of this title; and 22 (2) when combined with credits taken during the taxpayer's tax year 23 under AS 21.89.070, AS 43.20.014, AS 43.55.019, AS 43.56.018, or AS 43.65.018, 24 exceed $200,000 [$150,000]. 25 * Sec. 12. This Act applies to tax years beginning after the December 31 that precedes the 26 effective date of this Act. 27 * Sec. 13. This Act takes effect January 1, 1996.