HB 167: "An Act relating to a corporation income tax credit for contributions by a person owning or operating a commercial passenger vessel to a qualified trade association that was awarded a contract by the Department of Commerce, Community, and Economic Development, and used for planning and executing a destination tourism marketing campaign."
00 HOUSE BILL NO. 167 01 "An Act relating to a corporation income tax credit for contributions by a person 02 owning or operating a commercial passenger vessel to a qualified trade association that 03 was awarded a contract by the Department of Commerce, Community, and Economic 04 Development, and used for planning and executing a destination tourism marketing 05 campaign." 06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 07 * Section 1. AS 43.20 is amended by adding a new section to article 1 to read: 08 Sec. 43.20.047. Tourism marketing tax credit. (a) A person owning or 09 operating a commercial passenger vessel in the state is entitled to a credit against the 10 tax due under this chapter for a cash contribution 11 (1) accepted by the qualified trade association that was awarded a 12 contract under AS 44.33.125(a); and 13 (2) used for the destination tourism marketing campaign that was
01 planned and executed under the contract issued under AS 44.33.125(a). 02 (b) The credit in (a) of this section may not be less than zero and may not 03 exceed the difference between the tax liability for the person owning or operating a 04 commercial passenger vessel in the state determined under AS 43.20.011(e) in 05 conjunction with AS 43.20.021(h) and (i) and the tax liability for the person owning or 06 operating a commercial passenger vessel in the state determined under 07 AS 43.20.011(e) in conjunction with AS 43.20.021 as that section read on 08 December 16, 2006. 09 (c) A credit or portion of a credit under this section may not be used to reduce 10 a person's total tax liability under this chapter for a calendar year below zero, and any 11 unused credit or portion of a credit not used under this section may not be applied in a 12 subsequent calendar year. 13 (d) In this section, "commercial passenger vessel" has the meaning given in 14 AS 43.52.295. 15 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to 16 read: 17 APPLICABILITY. AS 43.20.047, added by sec. 1 of this Act, applies to cash 18 contributions accepted and used after June 30, 2009, for the destination tourism marketing 19 campaign described in AS 43.20.047(a), added by sec. 1 of this Act.