00HOUSE BILL NO. 142                                                                                                    
01 "An Act relating to the education credit for the fisheries business tax and the                                         
02 fisheries resource landing tax; and providing for an effective date."                                                   
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  AS 43.75.018(a) is amended to read:                                                                  
05  (a)  For cash contributions accepted for direct instruction, research, and                                            
06 educational support purposes, including library and museum acquisitions and                                             
07 contributions to endowment, by an Alaska university foundation ,  [OR] by a nonprofit,                                
08 public or private, Alaska two-year or four-year college accredited by a regional                                        
09 accreditation association,  or by a public Alaska postsecondary educational or                                         
10 vocational institution accredited by a national accreditation association,  a person                                   
11 engaged in a fisheries business is allowed as a credit against the tax due under this                                   
12 chapter                                                                                                                 
13   (1)  50 percent of contributions of not more than $100,000; and                                                      
14   (2)  100 percent of the next $100,000 of contributions.                                                              

01    * Sec. 2.  AS 43.75.018(c) is amended to read:                                                                     
02  (c)  Each public college ,  [AND] university , and postsecondary educational                                       
03 or vocational institution  shall include in its annual operating budget request                                        
04 contributions received and how the contributions were used.                                                             
05    * Sec. 3.  AS 43.77.045(a) is amended to read:                                                                     
06   (a)  In addition to the credit allowed under AS 43.77.040, for cash                                                  
07 contributions accepted for direct instruction, research, and educational support                                        
08 purposes, including library and museum acquisitions and contributions to endowment,                                     
09 by an Alaska university foundation ,  [OR] by a nonprofit, public or private, Alaska two-                             
10 year or four-year college accredited by a regional accreditation association,  or by a                                 
11 public Alaska postsecondary educational or vocational institution accredited by                                         
12 a national accreditation association,  a person engaged in a floating fisheries business                               
13 is allowed as a credit against the tax due under this chapter                                                           
14   (1)  50 percent of contributions of not more than $100,000; and                                                      
15   (2)  100 percent of the next $100,000 of contributions.                                                              
16    * Sec. 4.  AS 43.77.045(b) is amended to read:                                                                     
17  (b)  Each public college ,  [AND] university , and postsecondary educational                                       
18 or vocational institution  shall include in its annual operating budget request                                        
19 contributions received and how the contributions were used.                                                             
20    * Sec. 5.  This Act takes effect immediately under AS 01.10.070(c).