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HCS CSSB 267(FIN): "An Act establishing the Alaska veterans' memorial endowment fund and providing for credits against certain taxes for contributions to that fund; providing that the amount of each tax credit for contributions to the Alaska veterans' memorial endowment fund on amounts that do not exceed $100,000 is 50 percent and on amounts that exceed $100,000 but do not exceed $200,000 is 75 percent; relating to other tax credits for certain contributions; and providing for an effective date."

00                HOUSE CS FOR CS FOR SENATE BILL NO. 267(FIN)                                                             
01 "An Act establishing the Alaska veterans' memorial endowment fund and providing for                                     
02 credits against certain taxes for contributions to that fund; providing that the amount of                              
03 each tax credit for contributions to the Alaska veterans' memorial endowment fund on                                    
04 amounts that do not exceed $100,000 is 50 percent and on amounts that exceed $100,000                                   
05 but do not exceed $200,000 is 75 percent; relating to other tax credits for certain                                     
06 contributions; and providing for an effective date."                                                                    
07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
08    * Section 1.  AS 21.89.070(c) is amended to read:                                                                  
09            (c)  A contribution claimed as a credit under this section may not                                           
10                 (1)  be claimed as a credit under more than one provision of this title;                                
11       and                                                                                                               
12                 (2)  when combined with credits taken during the taxpayer's tax year                                    
13       under AS 21.89.071, 21.89.075, AS 43.20.014, 43.20.018, AS 43.55.019, 43.55.021,                      
01       AS 43.56.018, 43.56.019, AS 43.65.018, 43.65.019, AS 43.75.018, 43.75.019, [OR]                       
02       AS 43.77.045, or 43.77.046, exceed $150,000.                                                                  
03    * Sec. 2.  AS 21.89.070(c) is amended to read:                                                                     
04            (c)  A contribution claimed as a credit under this section may not                                           
05                 (1)  be claimed as a credit under more than one provision of this title;                                
06       and                                                                                                               
07                 (2)  when combined with credits taken during the taxpayer's tax year                                    
08       under AS 21.89.075 [AS 21.89.071, 21.89.075], AS 43.20.014, [43.20.018,]                                      
09       AS 43.55.019, [43.55.021,] AS 43.56.018, [43.56.019,] AS 43.65.018, [43.65.019,]                                  
10       AS 43.75.018, [43.75.019,] or AS 43.77.045, [OR 43.77.046,] exceed $150,000.                                  
11    * Sec. 3.  AS 21.89 is amended by adding a new section to read:                                                    
12            Sec. 21.89.071.  Insurance tax credit for gifts to Alaska veterans' memorial                               
13       endowment fund.  (a)  A taxpayer is allowed a credit against the tax due under                                
14       AS 21.09.210 or AS 21.66.110 for cash contributions that are accepted for the Alaska                              
15       veterans' memorial endowment fund established in AS 37.14.700.  The amount of the                                 
16       credit is the lesser of                                                                                           
17                 (1)  an amount equal to                                                                                 
18                      (A)  50 percent of contributions of not more than $100,000; and                                    
19                      (B)  75 percent of the next $100,000 of contributions; or                                          
20                 (2)  50 percent of the taxpayer's tax liability under this title.                                       
21            (b)  A contribution claimed as a credit under this section may not                                           
22                 (1)  be claimed as a credit under more than one provision of this title;                                
23       and                                                                                                               
24                 (2)  when combined with credits taken during the taxpayer's tax year                                    
25       under AS 21.89.070, 21.89.075, AS 43.20.014, 43.20.018, AS 43.55.019, 43.55.021,                                  
26       AS 43.56.018, 43.56.019, AS 43.65.018, 43.65.019, AS 43.75.018, 43.75.019,                                        
27       AS 43.77.045, or 43.77.046, exceed $150,000.                                                                      
28            (c)  A taxpayer may not claim the tax credit allowed under this section if the                               
29       taxpayer is in arrears in the payment of contributions under AS 23.20 or a tax under                              
30       this title or AS 43.  For purposes of this subsection, a taxpayer is not in arrears if the                        
31       payment is under administrative or judicial appeal.                                                               
01    * Sec. 4.  AS 21.89.075(c) is amended to read:                                                                     
02            (c)  A contribution claimed by a taxpayer as a credit under this section may not                             
03                 (1)  be claimed as a credit under more than one provision of this title;                                
04                 (2)  when combined with credits taken during the taxpayer's tax year                                    
05       under AS 21.89.070, 21.89.071, AS 43.20.014, 43.20.018, AS 43.55.019, 43.55.021,                      
06       AS 43.56.018, 43.56.019, AS 43.65.018, 43.65.019, AS 43.75.018, 43.75.019, [OR]                       
07       AS 43.77.045, or 43.77.046, exceed $150,000; or                                                               
08                 (3)  be claimed as a credit unless the contribution qualifies for the credit                            
09       under (d) of this section.                                                                                        
10    * Sec. 5.  AS 21.89.075(c) is amended to read:                                                                     
11            (c)  A contribution claimed by a taxpayer as a credit under this section may not                             
12                 (1)  be claimed as a credit under more than one provision of this title;                                
13                 (2)  when combined with credits taken during the taxpayer's tax year                                    
14       under AS 21.89.070, [21.89.071,] AS 43.20.014, [43.20.018,] AS 43.55.019,                                         
15       [43.55.021,] AS 43.56.018, [43.56.019,] AS 43.65.018, [43.65.019,] AS 43.75.018,                                  
16       [43.75.019,] or AS 43.77.045, [OR 43.77.046,] exceed $150,000; or                                             
17                 (3)  be claimed as a credit unless the contribution qualifies for the credit                            
18       under (d) of this section.                                                                                        
19    * Sec. 6.  AS 37.14 is amended by adding new sections to read:                                                     
20                  Article 8.  Alaska Veterans' Memorial Endowment Fund.                                                
21            Sec. 37.14.700.  Alaska veterans' memorial endowment fund established.                                     
22       (a)  The Alaska veterans' memorial endowment fund is established as a separate                                    
23       endowment trust fund of the state.  The fund consists of                                                          
24                 (1)  appropriations to the fund;                                                                        
25                 (2)  donations to the fund; and                                                                         
26                 (3)  income earned on investments of fund assets.                                                       
27            (b)  The commissioner of revenue shall manage the fund as an endowment,                                      
28       with the goal that the purchasing power of the fund will not diminish over time                                   
29       without regard to additional contributions that may be made to the fund.  The                                     
30       commissioner shall invest the assets of the fund in a manner likely to yield at least a                           
31       five percent real rate of return over time.                                                                       
01            (c)  Nothing in this section creates a dedicated fund.                                                       
02            Sec. 37.14.720.  Powers and duties of the commissioner of revenue.  In                                     
03       carrying out the investment duties under AS 37.14.700 - 37.14.740, the commissioner                               
04       of revenue has the powers and duties set out in AS 37.10.071.  The commissioner shall                             
05       provide reports to the adjutant general of the Department of Military and Veterans'                               
06       Affairs on the condition and investment performance of the fund.                                                  
07            Sec. 37.14.730.  Use of fund.  (a)  As soon as practicable after July 1 of each                            
08       year, the commissioner of revenue shall determine the average month-end market                                    
09       value of the fund for the immediately preceding three fiscal years.  The commissioner                             
10       shall identify five percent of that amount as available for appropriation by the                                  
11       legislature for uses described in (b) of this section.                                                            
12            (b)  Appropriations of the amount identified in (a) of this section may be used                              
13       for the following purposes:                                                                                       
14                 (1)  grants for the maintenance, repair, replacement, and enhancement                                   
15       of, or addition to, veterans' memorials or monuments to the military;                                             
16                 (2)  grants for the development and construction of new veterans'                                       
17       memorials or monuments to the military if the adjutant general determines that the                                
18       purposes set out in (1) of this subsection have been met in a fiscal year;                                        
19                 (3)  reimbursement of the costs of establishment, management, and                                       
20       administration of the fund.                                                                                       
21            (c)  After consultation with appropriate veterans' organizations, the adjutant                               
22       general of the Department of Military and Veterans' Affairs shall administer the grant                            
23       program and award grants from the money appropriated from the fund.  The adjutant                                 
24       general may adopt regulations under AS 44.62 (Administrative Procedure Act) to                                    
25       establish procedures and standards to administer the grant program and for the award                              
26       of grants.  The standards may include requirements for recipients to match grant                                  
27       awards, if appropriate.                                                                                           
28            Sec. 37.14.740.  Definition.  In AS 37.14.700 - 37.14.740, "fund" means the                                
29       Alaska veterans' memorial endowment fund established in AS 37.14.700.                                             
30    * Sec. 7.  AS 43.20.014(d) is amended to read:                                                                     
31            (d)  A contribution claimed as a credit under this section may not                                           
01                 (1)  be claimed as a credit under another provision of this title;                                      
02                 (2)  also be allowed as a deduction under 26 U.S.C. 170 against the tax                                 
03       imposed by this chapter; and                                                                                      
04                 (3)  when combined with credits taken during the taxpayer's tax year                                    
05       under AS 21.89.070, 21.89.071, 21.89.075, AS 43.20.018, AS 43.55.019, 43.55.021,                      
06       AS 43.56.018, 43.56.019, AS 43.65.018, 43.65.019, AS 43.75.018, 43.75.019, [OR]                       
07       AS 43.77.045, or 43.77.046, exceed $150,000.                                                                  
08    * Sec. 8.  AS 43.20.014(d) is amended to read:                                                                     
09            (d)  A contribution claimed as a credit under this section may not                                           
10                 (1)  be claimed as a credit under another provision of this title;                                      
11                 (2)  also be allowed as a deduction under 26 U.S.C. 170 against the tax                                 
12       imposed by this chapter; and                                                                                      
13                 (3)  when combined with credits taken during the taxpayer's tax year                                    
14       under AS 21.89.070, [21.89.071,] 21.89.075, [AS 43.20.018,] AS 43.55.019,                                         
15       [43.55.021,] AS 43.56.018, [43.56.019,] AS 43.65.018, [43.65.019,] AS 43.75.018,                                  
16       [43.75.019,] or AS 43.77.045, [OR 43.77.046,] exceed $150,000.                                                
17    * Sec. 9.  AS 43.20 is amended by adding a new section to read:                                                    
18            Sec. 43.20.018.  Alaska veterans' memorial endowment fund contribution                                     
19       credit.  (a)  For cash contributions accepted for the Alaska veterans' memorial                                 
20       endowment fund established in AS 37.14.700, a taxpayer is allowed as a credit against                             
21       the tax due under this chapter                                                                                    
22                 (1)  50 percent of contributions of not more than $100,000; and                                         
23                 (2)  75 percent of the next $100,000 of contributions.                                                  
24            (b)  A contribution claimed as a credit under this section may not                                           
25                 (1)  be claimed as a credit under another provision of this title;                                      
26                 (2)  also be allowed as a deduction under 26 U.S.C. 170 against the tax                                 
27       imposed by this chapter; and                                                                                      
28                 (3)  when combined with credits taken during the taxpayer's tax year                                    
29       under AS 21.89.070, 21.89.071, 21.89.075, AS 43.20.014, AS 43.55.019, 43.55.021,                                  
30       AS 43.56.018, 43.56.019, AS 43.65.018, 43.65.019, AS 43.75.018, 43.75.019,                                        
31       AS 43.77.045, or 43.77.046, exceed $150,000.                                                                      
01            (c)  A taxpayer may not claim the tax credit allowed under this section if the                               
02       taxpayer is in arrears in the payment of contributions under AS 23.20 or a tax under                              
03       this title or AS 21.  For purposes of this subsection, a taxpayer is not in arrears if the                        
04       payment is under administrative or judicial appeal.                                                               
05    * Sec. 10.  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 claimed as a credit under another provision of this title; and                                  
08                 (2)  when combined with credits taken during the taxpayer's tax year                                    
09       under AS 21.89.070, 21.89.071, 21.89.075, AS 43.20.014, 43.20.018, AS 43.55.021,                          
10       AS 43.56.018, 43.56.019, AS 43.65.018, 43.65.019, AS 43.75.018, 43.75.019, [OR]                       
11       AS 43.77.045, or 43.77.046, exceed $150,000.                                                                  
12    * Sec. 11.  AS 43.55.019(d) is amended to read:                                                                    
13            (d)  A contribution claimed as a credit under this section may not                                           
14                 (1)  be claimed as a credit under another provision of this title; and                                  
15                 (2)  when combined with credits taken during the taxpayer's tax year                                    
16       under AS 21.89.070, [21.89.071,] 21.89.075, AS 43.20.014, [43.20.018,                                             
17       AS 43.55.021,] AS 43.56.018, [43.56.019,] AS 43.65.018, [43.65.019,] AS 43.75.018,                                
18       [43.75.019,] or AS 43.77.045, [OR 43.77.046,] exceed $150,000.                                                
19    * Sec. 12.  AS 43.55 is amended by adding a new section to read:                                                   
20            Sec. 43.55.021.  Alaska veterans' memorial endowment fund contribution                                     
21       credit.  (a)  For cash contributions accepted for the Alaska veterans' memorial                                 
22       endowment fund established in AS 37.14.700, a producer of oil or gas is allowed as a                              
23       credit against the tax due under this chapter                                                                     
24                 (1)  50 percent of contributions of not more than $100,000; and                                         
25                 (2)  75 percent of the next $100,000 of contributions.                                                  
26            (b)  A contribution claimed as a credit under this section may not                                           
27                 (1)  be claimed as a credit under another provision of this title; and                                  
28                 (2)  when combined with credits taken during the taxpayer's tax year                                    
29       under AS 21.89.070, 21.89.071, 21.89.075, AS 43.20.014, 43.20.018, AS 43.55.019,                                  
30       AS 43.56.018, 43.56.019, AS 43.65.018, 43.65.019, AS 43.75.018, 43.75.019,                                        
31       AS 43.77.045, or 43.77.046, exceed $150,000.                                                                      
01            (c)  A taxpayer may not claim the tax credit allowed under this section if the                               
02       taxpayer is in arrears in the payment of contributions under AS 23.20 or a tax under                              
03       this title or AS 21.  For purposes of this subsection, a taxpayer is not in arrears if the                        
04       payment is under administrative or judicial appeal.                                                               
05            (d)  The department may, by regulation, establish procedures by which a                                      
06       taxpayer may allocate a pro rata share of a credit claimed under this section against                             
07       monthly tax payments made during the tax year.                                                                    
08    * Sec. 13.  AS 43.56.018(d) is amended to read:                                                                    
09            (d)  A contribution claimed as a credit under this section may not                                           
10                 (1)  be claimed as a credit under another provision of this title; and                                  
11                 (2)  when combined with credits taken during the taxpayer's tax year                                    
12       under AS 21.89.070, 21.89.071, 21.89.075, AS 43.20.014, 43.20.018, AS 43.55.019,                          
13       43.55.021, AS 43.56.019, AS 43.65.018, 43.65.019, AS 43.75.018, 43.75.019, [OR]                       
14       AS 43.77.045, or 43.77.046, exceed $150,000.                                                                  
15    * Sec. 14.  AS 43.56.018(d) is amended to read:                                                                    
16            (d)  A contribution claimed as a credit under this section may not                                           
17                 (1)  be claimed as a credit under another provision of this title; and                                  
18                 (2)  when combined with credits taken during the taxpayer's tax year                                    
19       under AS 21.89.070, [21.89.071,] 21.89.075, AS 43.20.014, [43.20.018,]                                            
20       AS 43.55.019, [43.55.021, AS 43.56.019,] AS 43.65.018, [43.65.019,] AS 43.75.018,                                 
21       [43.75.019,] or AS 43.77.045, [OR 43.77.046,] exceed $150,000.                                                
22    * Sec. 15.  AS 43.56 is amended by adding a new section to read:                                                   
23            Sec. 43.56.019.  Alaska veterans' memorial endowment fund contribution                                     
24       credit.  (a)  For cash contributions accepted for the Alaska veterans' memorial                                 
25       endowment fund established in AS 37.14.700, the owner of property taxable under this                              
26       chapter is allowed as a credit against the tax due under this chapter                                             
27                 (1)  50 percent of contributions of not more than $100,000; and                                         
28                 (2)  75 percent of the next $100,000 of contributions.                                                  
29            (b)  A contribution claimed as a credit under this section may not                                           
30                 (1)  be claimed as a credit under another provision of this title; and                                  
31                 (2)  when combined with credits taken during the taxpayer's tax year                                    
01       under AS 21.89.070, 21.89.071, 21.89.075, AS 43.20.014, 43.20.018, AS 43.55.019,                                  
02       43.55.021, AS 43.56.018, AS 43.65.018, 43.65.019, AS 43.75.018, 43.75.019,                                        
03       AS 43.77.045, or 43.77.046, exceed $150,000.                                                                      
04            (c)  A taxpayer may not claim the tax credit allowed under this section if the                               
05       taxpayer is in arrears in the payment of contributions under AS 23.20 or a tax under                              
06       this title or AS 21.  For purposes of this subsection, a taxpayer is not in arrears if the                        
07       payment is under administrative or judicial appeal.                                                               
08            (d)  The department may, by regulation, establish procedures by which a                                      
09       taxpayer may allocate a pro rata share of a credit claimed under this section against                             
10       monthly tax payments made during the tax year.                                                                    
11    * Sec. 16.  AS 43.65.018(d) is amended to read:                                                                    
12            (d)  A contribution claimed as a credit 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, 21.89.071, 21.89.075, AS 43.20.014, 43.20.018, AS 43.55.019,                          
16       43.55.021, AS 43.56.018, 43.56.019, 43.65.019, AS 43.75.018, 43.75.019, [OR]                          
17       AS 43.77.045, or 43.77.046, exceed $150,000.                                                                  
18    * Sec. 17.  AS 43.65.018(d) is amended to read:                                                                    
19            (d)  A contribution claimed as a credit under this section may not                                           
20                 (1)  be claimed as a credit under another provision of this title; and                                  
21                 (2)  when combined with credits taken during the taxpayer's tax year                                    
22       under AS 21.89.070, [21.89.071,] 21.89.075, AS 43.20.014, [43.20.018,]                                            
23       AS 43.55.019, [43.55.021,] AS 43.56.018, [43.56.019, 43.65.019,] AS 43.75.018,                                    
24       [43.75.019,] or AS 43.77.045, [OR 43.77.046,] exceed $150,000.                                                
25    * Sec. 18.  AS 43.65 is amended by adding a new section to read:                                                   
26            Sec. 43.65.019.  Alaska veterans' memorial endowment fund contribution                                     
27       credit.  (a)  For cash contributions accepted for the Alaska veterans' memorial                                 
28       endowment fund established in AS 37.14.700, a person engaged in the business of                                   
29       mining in the state is allowed as a credit against the tax due under this chapter                                 
30                 (1)  50 percent of contributions of not more than $100,000; and                                         
31                 (2)  75 percent of the next $100,000 of contributions.                                                  
01            (b)  A contribution claimed as a credit under this section may not                                           
02                 (1)  be claimed as a credit under another provision of this title; and                                  
03                 (2)  when combined with credits taken during the taxpayer's tax year                                    
04       under AS 21.89.070, 21.89.071, 21.89.075, AS 43.20.014, 43.20.018, AS 43.55.019,                                  
05       43.55.021, AS 43.56.018, 43.56.019, AS 43.65.018, AS 43.75.018, 43.75.019,                                        
06       AS 43.77.045, or 43.77.046, exceed $150,000.                                                                      
07            (c)  A taxpayer may not claim the tax credit allowed under this section if the                               
08       taxpayer is in arrears in the payment of contributions under AS 23.20 or a tax under                              
09       this title or AS 21.  For purposes of this subsection, a taxpayer is not in arrears if the                        
10       payment is under administrative or judicial appeal.                                                               
11    * Sec. 19.  AS 43.75.018(d) is amended to read:                                                                    
12            (d)  A contribution claimed as a credit 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, 21.89.071, 21.89.075, AS 43.20.014, 43.20.018, AS 43.55.019,                          
16       43.55.021, AS 43.56.018, 43.56.019, AS 43.65.018, 43.65.019, AS 43.75.019, [OR]                       
17       AS 43.77.045, or 43.77.046, exceed $150,000.                                                                  
18    * Sec. 20.  AS 43.75.018(d) is amended to read:                                                                    
19            (d)  A contribution claimed as a credit under this section may not                                           
20                 (1)  be claimed as a credit under another provision of this title; and                                  
21                 (2)  when combined with credits taken during the taxpayer's tax year                                    
22       under AS 21.89.070, [21.89.071,] 21.89.075, AS 43.20.014, [43.20.018,]                                            
23       AS 43.55.019, [43.55.021,] AS 43.56.018, [43.56.019,] AS 43.65.018, [43.65.019,                                   
24       AS 43.75.019,] or AS 43.77.045, [OR 43.77.046,] exceed $150,000.                                              
25    * Sec. 21.  AS 43.75 is amended by adding a new section to read:                                                   
26            Sec. 43.75.019.  Alaska veterans' memorial endowment fund contribution                                     
27       credit.  (a)  For cash contributions accepted for the Alaska veterans' memorial                                 
28       endowment fund established in AS 37.14.700, a person engaged in a fisheries business                              
29       is allowed as a credit against the tax due under this chapter                                                     
30                 (1)  50 percent of contributions of not more than $100,000; and                                         
31                 (2)  75 percent of the next $100,000 of contributions.                                                  
01            (b)  A contribution claimed as a credit under this section may not                                           
02                 (1)  be claimed as a credit under another provision of this title; and                                  
03                 (2)  when combined with credits taken during the taxpayer's tax year                                    
04       under AS 21.89.070, 21.89.071, 21.89.075, AS 43.20.014, 43.20.018, AS 43.55.019,                                  
05       43.55.021, AS 43.56.018, 43.56.019, AS 43.65.018, 43.65.019, AS 43.75.018,                                        
06       AS 43.77.045, or 43.77.046, exceed $150,000.                                                                      
07            (c)  A taxpayer may not claim the tax credit allowed under this section if the                               
08       taxpayer is in arrears in the payment of contributions under AS 23.20 or a tax under                              
09       this title or AS 21.  For purposes of this subsection, a taxpayer is not in arrears if the                        
10       payment is under administrative or judicial appeal.                                                               
11    * Sec. 22.  AS 43.77.045(c) is amended to read:                                                                    
12            (c)  A contribution claimed as a credit 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, 21.89.071, 21.89.075, AS 43.20.014, 43.20.018, AS 43.55.019,                          
16       43.55.021, AS 43.56.018, 43.56.019, AS 43.65.018, 43.65.019, [OR] AS 43.75.018,                       
17       43.75.019, or AS 43.77.046, exceed $150,000.                                                                  
18    * Sec. 23.  AS 43.77.045(c) is amended to read:                                                                    
19            (c)  A contribution claimed as a credit under this section may not                                           
20                 (1)  be claimed as a credit under another provision of this title; and                                  
21                 (2)  when combined with credits taken during the taxpayer's tax year                                    
22       under AS 21.89.070, [21.89.071,] 21.89.075, AS 43.20.014, [43.20.018,]                                            
23       AS 43.55.019, [43.55.021,] AS 43.56.018, [43.56.019,] AS 43.65.018, [43.65.019,] or                           
24       AS 43.75.018, [43.75.019, OR AS 43.77.046,] exceed $150,000.                                                      
25    * Sec. 24.  AS 43.77 is amended by adding a new section to read:                                                   
26            Sec. 43.77.046.  Alaska veterans' memorial endowment fund contribution                                     
27       credit.  (a)  In addition to the credit allowed under AS 43.77.040, for cash                                    
28       contributions accepted for the Alaska veterans' memorial endowment fund established                               
29       in AS 37.14.700, a person engaged in a floating fisheries business is allowed as a                                
30       credit against the tax due under this chapter                                                                     
31                 (1)  50 percent of contributions of not more than $100,000; and                                         
01                 (2)  75 percent of the next $100,000 of contributions.                                                  
02            (b)  A contribution claimed as a credit under this section may not                                           
03                 (1)  be claimed as a credit under another provision of this title; and                                  
04                 (2)  when combined with credits taken during the taxpayer's tax year                                    
05       under AS 21.89.070, 21.89.071, 21.89.075, AS 43.20.014, 43.20.018, AS 43.55.019,                                  
06       43.55.021, AS 43.56.018, 43.56.019, AS 43.65.018, 43.65.019, AS 43.75.018,                                        
07       43.75.019, or AS 43.77.045, exceed $150,000.                                                                      
08            (c)  A taxpayer may not claim the tax credit allowed under this section if the                               
09 taxpayer is in arrears in the payment of contributions under AS 23.20 or a tax under this title                         
10 or AS 21.  For purposes of this subsection, a taxpayer is not in arrears if the payment is under                        
11 administrative or judicial appeal.                                                                                      
12    * Sec. 25.  AS 21.89.071; AS 43.20.018; AS 43.55.021; AS 43.56.019; AS 43.65.019;                                  
13 AS 43.75.019; and AS 43.77.046 are repealed.                                                                            
14    * Sec. 26.  The uncodified law of the State of Alaska is amended by adding a new section to                        
15 read:                                                                                                                   
16       TRANSITION:  AMOUNT AVAILABLE FOR APPROPRIATION.  (a)                                                             
17 Notwithstanding AS 37.14.730(a), enacted by sec. 6 of this Act, the commissioner of revenue                             
18 shall identify five percent of the balance of the Alaska veterans' memorial endowment fund on                           
19 July 1, 2002, as being the amount available for appropriation to support efforts authorized by                          
20 this Act for fiscal year 2003.                                                                                          
21       (b)  Notwithstanding the requirement in AS 37.14.730(a), enacted by sec. 6 of this                                
22 Act, that the commissioner of revenue make a determination based on the market value of the                             
23 fund for the immediately preceding three fiscal years, the commissioner of revenue shall                                
24 make the determination under AS 37.14.730(a) based on the average ending balance in the                                 
25 fund                                                                                                                    
26            (1)  from July 31, 2002, to June 30, 2003, for fiscal year 2004;                                             
27            (2)  from July 31, 2002, to June 30, 2004, for fiscal year 2005;                                             
28            (3)  from July 31, 2002, to June 30, 2005, for fiscal year 2006.                                             
29       (c)  In this section,                                                                                             
30            (1)  "Alaska veterans' memorial endowment fund" means the fund established                                   
31 in AS 37.14.700, enacted by sec. 6 of this Act;                                                                         
01            (2)  "fund" means the Alaska veterans' memorial endowment fund.                                              
02    * Sec. 27.  Sections 1, 3, 4, 6, 7, 9, 10, 12, 13, 15, 16, 18, 19, 21, 22, 24, and 26 of this Act                  
03 take effect immediately under AS 01.10.070(c).                                                                          
04    * Sec. 28.  Sections 2, 5, 8, 11, 14, 17, 20, 23, and 25 of this Act take effect July 1, 2003.