CSHB 367(EDC): "An Act relating to tax credits for cash contributions by taxpayers that are accepted for certain educational purposes and facilities; and providing for an effective date."
00 CS FOR HOUSE BILL NO. 367(EDC) 01 "An Act relating to tax credits for cash contributions by taxpayers that are accepted for 02 certain educational purposes and facilities; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 21.06.110 is amended to read: 05 Sec. 21.06.110. Director's annual report. As early in each calendar year as is 06 reasonably possible, the director shall prepare and deliver an annual report to the 07 commissioner, who shall notify the legislature that the report is available, showing, 08 with respect to the preceding calendar year, 09 (1) a list of the authorized insurers transacting insurance in this state, 10 with a summary of their financial statement as the director considers appropriate; 11 (2) the name of each insurer whose certificate of authority was 12 surrendered, suspended, or revoked during the year and the cause of surrender, 13 suspension, or revocation; 14 (3) the name of each insurer authorized to do business in this state
01 against which delinquency or similar proceedings were instituted and, if against an 02 insurer domiciled in this state, a concise statement of the facts with respect to each 03 proceeding and its present status; 04 (4) a statement in regard to examination of rating organizations, 05 advisory organizations, joint underwriters, and joint reinsurers as required by 06 AS 21.39.120; 07 (5) the receipt and expenses of the division for the year; 08 (6) recommendations of the director as to amendments or 09 supplementation of laws affecting insurance or the office of director; 10 (7) statistical information regarding health insurance, including the 11 number of individual and group policies sold or terminated in the state; this paragraph 12 does not authorize the director to require an insurer to release proprietary information; 13 (8) the annual percentage of health claims paid in the state that meets 14 the requirements of AS 21.36.128(a) and (d); [AND] 15 (9) the total amount of contributions reported and the total 16 amount of credit claimed under AS 21.89.070 and 21.89.075; and 17 (10) other pertinent information and matters the director considers 18 proper. 19 * Sec. 2. AS 21.89.070(a) is amended to read: 20 (a) A taxpayer is allowed a credit against the tax due under AS 21.09.210 or 21 AS 21.66.110 for cash contributions accepted 22 (1) for direct instruction, research, and educational support purposes, 23 including library and museum acquisitions, and contributions to endowment, by an 24 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 25 four-year college accredited by a regional accreditation association; 26 (2) for secondary school level vocational education courses, [AND] 27 programs, and facilities by a school district in the state; [AND] 28 (3) for vocational education courses, programs, and facilities by a 29 state-operated vocational technical education and training school; and 30 (4) for a facility by a nonprofit, public or private, Alaska two-year 31 or four-year college accredited by a regional accreditation association.
01 * Sec. 3. AS 21.89.070(b) is amended to read: 02 (b) The amount of the credit is [THE LESSER OF 03 (1)] an amount equal to 04 (1) [(A)] 50 percent of contributions of not more than $100,000; 05 (2) [AND (B)] 100 percent of the next $100,000 of contributions; and 06 (3) 50 percent of the amount of contributions that exceed $200,000 07 [OR 08 (2) 50 PERCENT OF THE TAXPAYER'S TAX LIABILITY UNDER 09 THIS TITLE]. 10 * Sec. 4. AS 21.89.070(d) is amended to read: 11 (d) A contribution claimed as a credit under this section may not 12 (1) be the basis for a credit claimed [AS A CREDIT] under more 13 than one provision of this title; and 14 (2) when combined with contributions that are the basis for credits 15 taken during the taxpayer's tax year under AS 21.89.075, AS 43.20.014, 16 AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in 17 the total amount of credits exceeding $5,000,000; if the taxpayer is a member of 18 an affiliated group, then the total amount of credits may not exceed $5,000,000 19 for the affiliated group [EXCEED $150,000]. 20 * Sec. 5. AS 21.89.070(e) is amended by adding a new paragraph to read: 21 (3) "affiliated group" has the meaning given in AS 43.20.073. 22 * Sec. 6. AS 21.89.075(c) is amended to read: 23 (c) A contribution claimed by a taxpayer as a credit under this section may not 24 (1) be the basis for a credit claimed [AS A CREDIT] under more 25 than one provision of this title; 26 (2) when combined with contributions that are the basis for credits 27 taken during the taxpayer's tax year under AS 21.89.070, AS 43.20.014, 28 AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in 29 the total amount of credits exceeding $5,000,000; if the taxpayer is a member of 30 an affiliated group, then the total amount of credits may not exceed $5,000,000 31 for the affiliated group; in this paragraph, "affiliated group" has the meaning
01 given in AS 43.20.073 [EXCEED $150,000]; or 02 (3) be claimed as a credit unless the contribution qualifies for the credit 03 under (d) of this section. 04 * Sec. 7. AS 43.05.010 is amended to read: 05 Sec. 43.05.010. Duties of commissioner. The commissioner of revenue shall 06 (1) exercise general supervision and direct the activities of the 07 Department of Revenue; 08 (2) supervise the fiscal affairs and responsibilities of the department; 09 (3) prescribe uniform rules for investigations and hearings; 10 (4) keep a record of all departmental proceedings, record and file all 11 bonds, and assume custody of returns, reports, papers, and documents of the 12 department; 13 (5) adopt a seal and affix it to each order, process, or certificate issued 14 by the commissioner; 15 (6) keep a record of each order, process, and certificate issued by the 16 commissioner, and keep the record open to public inspection at all reasonable times; 17 (7) hold hearings and investigations necessary for the administration of 18 state tax and revenue laws; 19 (8) except as provided in AS 43.05.405 - 43.05.499 and in 20 AS 44.64.030, hear and determine appeals of a matter within the jurisdiction of the 21 Department of Revenue and enter orders on the appeals that are final unless reversed 22 or modified by the courts; 23 (9) issue subpoenas to require the attendance of witnesses and the 24 production of necessary books, papers, documents, correspondence, and other things; 25 (10) order the taking of depositions before a person competent to 26 administer oaths; 27 (11) administer oaths and take acknowledgments; 28 (12) request the attorney general for rulings on the interpretation of the 29 tax and revenue laws administered by the department; 30 (13) call upon the attorney general to institute actions for recovery of 31 unpaid taxes, fees, excises, additions to tax, penalties, and interest;
01 (14) issue warrants for the collection of unpaid tax penalties and 02 interest and take all steps necessary and proper to enforce full and complete 03 compliance with the tax, license, excise, and other revenue laws of the state; 04 (15) report to the legislature before February 15 of each year the 05 total amount of contributions reported and the total amount of credit claimed 06 during the previous calendar year under AS 43.20.014, AS 43.55.019, 07 AS 43.56.018, AS 43.65.018, AS 43.75.018, and AS 43.77.045 [REPEALED]. 08 * Sec. 8. AS 43.20.014(a) is amended to read: 09 (a) A taxpayer is allowed a credit against the tax due under this chapter for 10 cash contributions accepted 11 (1) for direct instruction, research, and educational support purposes, 12 including library and museum acquisitions, and contributions to endowment, by an 13 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 14 four-year college accredited by a regional accreditation association; 15 (2) for secondary school level vocational education courses, [AND] 16 programs, and facilities by a school district in the state; [AND] 17 (3) for vocational education courses, programs, and facilities by a 18 state-operated vocational technical education and training school; and 19 (4) for a facility by a nonprofit, public or private, Alaska two-year 20 or four-year college accredited by a regional accreditation association. 21 * Sec. 9. AS 43.20.014(b) is amended to read: 22 (b) The amount of the credit is 23 (1) 50 percent of contributions of not more than $100,000; [AND] 24 (2) 100 percent of the next $100,000 of contributions; and 25 (3) 50 percent of the amount of contributions that exceed $200,000. 26 * Sec. 10. AS 43.20.014(d) is amended to read: 27 (d) A contribution claimed as a credit under this section may not 28 (1) be the basis for a credit claimed [AS A CREDIT] under another 29 provision of this title; 30 (2) also be allowed as a deduction under 26 U.S.C. 170 against the tax 31 imposed by this chapter; and
01 (3) when combined with contributions that are the basis for credits 02 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.55.019, 03 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 04 amount of credits exceeding $5,000,000; if the taxpayer is a member of an 05 affiliated group, then the total amount of credits may not exceed $5,000,000 for 06 the affiliated group [EXCEED $150,000]. 07 * Sec. 11. AS 43.20.014(e) is amended by adding new paragraphs to read: 08 (3) "affiliated group" has the meaning given in AS 43.20.073; 09 (4) "tax due under this chapter" means the tax due after application of 10 the credit allowed under AS 43.20.043 and before the application of any other credit 11 allowable under this chapter. 12 * Sec. 12. AS 43.55.019(a) is amended to read: 13 (a) A producer of oil or gas is allowed a credit against the tax due under this 14 chapter for cash contributions accepted 15 (1) for direct instruction, research, and educational support purposes, 16 including library and museum acquisitions, and contributions to endowment, by an 17 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 18 four-year college accredited by a regional accreditation association; 19 (2) for secondary school level vocational education courses, [AND] 20 programs, and facilities by a school district in the state; [AND] 21 (3) for vocational education courses, programs, and facilities by a 22 state-operated vocational technical education and training school; and 23 (4) for a facility by a nonprofit, public or private, Alaska two-year 24 or four-year college accredited by a regional accreditation association. 25 * Sec. 13. AS 43.55.019(b) is amended to read: 26 (b) The amount of the credit is 27 (1) 50 percent of contributions of not more than $100,000; [AND] 28 (2) 100 percent of the next $100,000 of contributions; and 29 (3) 50 percent of the amount of contributions that exceed $200,000. 30 * Sec. 14. AS 43.55.019(d) is amended to read: 31 (d) A contribution claimed as a credit under this section may not
01 (1) be the basis for a credit claimed [AS A CREDIT] under another 02 provision of this title; and 03 (2) when combined with contributions that are the basis for credits 04 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 05 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 06 amount of credits exceeding $5,000,000; if the taxpayer is a member of an 07 affiliated group, then the total amount of credits may not exceed $5,000,000 for 08 the affiliated group [EXCEED $150,000]. 09 * Sec. 15. AS 43.55.019(f) is amended by adding a new paragraph to read: 10 (3) "affiliated group" has the meaning given in AS 43.20.073. 11 * Sec. 16. AS 43.56.018(a) is amended to read: 12 (a) The owner of property taxable under this chapter is allowed a credit 13 against the tax due under this chapter for cash contributions accepted 14 (1) for direct instruction, research, and educational support purposes, 15 including library and museum acquisitions, and contributions to endowment, by an 16 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 17 four-year college accredited by a regional accreditation association; 18 (2) for secondary school level vocational education courses, [AND] 19 programs, and facilities by a school district in the state; [AND] 20 (3) for vocational education courses, programs, and facilities by a 21 state-operated vocational technical education and training school; and 22 (4) for a facility by a nonprofit, public or private, Alaska two-year 23 or four-year college accredited by a regional accreditation association. 24 * Sec. 17. AS 43.56.018(b) is amended to read: 25 (b) The amount of the credit is 26 (1) 50 percent of contributions of not more than $100,000; [AND] 27 (2) 100 percent of the next $100,000 of contributions; and 28 (3) 50 percent of the amount of contributions that exceed $200,000. 29 * Sec. 18. AS 43.56.018(d) is amended to read: 30 (d) A contribution claimed as a credit under this section may not 31 (1) be the basis for a credit claimed [AS A CREDIT] under another
01 provision of this title; and 02 (2) when combined with contributions that are the basis for credits 03 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 04 AS 43.55.019, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 05 amount of credits exceeding $5,000,000; if the taxpayer is a member of an 06 affiliated group, then the total amount of credits may not exceed $5,000,000 for 07 the affiliated group [EXCEED $150,000]. 08 * Sec. 19. AS 43.56.018(e) is amended by adding a new paragraph to read: 09 (3) "affiliated group" has the meaning given in AS 43.20.073. 10 * Sec. 20. AS 43.65.018(a) is amended to read: 11 (a) A person engaged in the business of mining in the state is allowed a credit 12 against the tax due under this chapter for cash contributions accepted 13 (1) for direct instruction, research, and educational support purposes, 14 including library and museum acquisitions, and contributions to endowment, by an 15 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 16 four-year college accredited by a regional accreditation association; 17 (2) for secondary school level vocational education courses, [AND] 18 programs, and facilities by a school district in the state; [AND] 19 (3) for vocational education courses, programs, and facilities by a 20 state-operated vocational technical education and training school; and 21 (4) for a facility by a nonprofit, public or private, Alaska two-year 22 or four-year college accredited by a regional accreditation association. 23 * Sec. 21. AS 43.65.018(b) is amended to read: 24 (b) The amount of the credit is 25 (1) 50 percent of contributions of not more than $100,000; [AND] 26 (2) 100 percent of the next $100,000 of contributions; and 27 (3) 50 percent of the amount of contributions that exceed $200,000. 28 * Sec. 22. AS 43.65.018(d) is amended to read: 29 (d) A contribution claimed as a credit under this section may not 30 (1) be the basis for a credit claimed [AS A CREDIT] under another 31 provision of this title; and
01 (2) when combined with contributions that are the basis for credits 02 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 03 AS 43.55.019, AS 43.56.018, AS 43.75.018, or AS 43.77.045, result in the total 04 amount of the credits exceeding $5,000,000; if the taxpayer is a member of an 05 affiliated group, then the total amount of credits may not exceed $5,000,000 for 06 the affiliated group [EXCEED $150,000]. 07 * Sec. 23. AS 43.65.018(e) is amended by adding a new paragraph to read: 08 (3) "affiliated group" has the meaning given in AS 43.20.073. 09 * Sec. 24. AS 43.75.018(a) is amended to read: 10 (a) A person engaged in a fisheries business is allowed a credit against the tax 11 due under this chapter for cash contributions accepted 12 (1) for direct instruction, research, and educational support purposes, 13 including library and museum acquisitions, and contributions to endowment, by an 14 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 15 four-year college accredited by a regional accreditation association; 16 (2) for secondary school level vocational education courses, [AND] 17 programs, and facilities by a school district in the state; [AND] 18 (3) for vocational education courses, programs, and facilities by a 19 state-operated vocational technical education and training school; and 20 (4) for a facility by a nonprofit, public or private, Alaska two-year 21 or four-year college accredited by a regional accreditation association. 22 * Sec. 25. AS 43.75.018(b) is amended to read: 23 (b) The amount of the credit is 24 (1) 50 percent of contributions of not more than $100,000; [AND] 25 (2) 100 percent of the next $100,000 of contributions; and 26 (3) 50 percent of the amount of contributions that exceed $200,000. 27 * Sec. 26. AS 43.75.018(d) is amended to read: 28 (d) A contribution claimed as a credit under this section may not 29 (1) be the basis for a credit claimed [AS A CREDIT] under another 30 provision of this title; and 31 (2) when combined with contributions that are the basis for credits
01 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 02 AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.77.045, result in the total 03 amount of the credits exceeding $5,000,000; if the taxpayer is a member of an 04 affiliated group, then the total amount of credits may not exceed $5,000,000 for 05 the affiliated group [EXCEED $150,000]. 06 * Sec. 27. AS 43.75.018(e) is amended by adding a new paragraph to read: 07 (3) "affiliated group" has the meaning given in AS 43.20.073. 08 * Sec. 28. AS 43.77.045(a) is amended to read: 09 (a) In addition to the credit allowed under AS 43.77.040, a person engaged in 10 a floating fisheries business is allowed a credit against the tax due under this chapter 11 for cash contributions accepted 12 (1) for direct instruction, research, and educational support purposes, 13 including library and museum acquisitions, and contributions to endowment, by an 14 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 15 four-year college accredited by a regional accreditation association; 16 (2) for secondary school level vocational education courses, [AND] 17 programs, and facilities by a school district in the state; [AND] 18 (3) for vocational education courses, programs, and facilities by a 19 state-operated vocational technical education and training school; and 20 (4) for a facility by a nonprofit, public or private, Alaska two-year 21 or four-year college accredited by a regional accreditation association. 22 * Sec. 29. AS 43.77.045(b) is amended to read: 23 (b) The amount of the credit is 24 (1) 50 percent of contributions of not more than $100,000; [AND] 25 (2) 100 percent of the next $100,000 of contributions; and 26 (3) 50 percent of the amount of contributions that exceed $200,000. 27 * Sec. 30. AS 43.77.045(d) is amended to read: 28 (d) A contribution claimed as a credit under this section may not 29 (1) be the basis for a credit claimed [AS A CREDIT] under another 30 provision of this title; and 31 (2) when combined with contributions that are the basis for credits
01 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 02 AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.75.018, result in the total 03 amount of the credits exceeding $5,000,000; if the taxpayer is a member of an 04 affiliated group, then the total amount of credits may not exceed $5,000,000 for 05 the affiliated group [EXCEED $150,000]. 06 * Sec. 31. AS 43.77.045(e) is amended by adding a new paragraph to read: 07 (3) "affiliated group" has the meaning given in AS 43.20.073. 08 * Sec. 32. This Act takes effect January 1, 2011.