CSHB 364(CRA): "An Act relating to a credit against the net income tax for a contribution made by a taxpayer to a nonprofit organization that provides an emergency shelter for the homeless or a facility for alcohol or drug detoxification."
00 CS FOR HOUSE BILL NO. 364(CRA) 01 "An Act relating to a credit against the net income tax for a contribution made by a 02 taxpayer to a nonprofit organization that provides an emergency shelter for the 03 homeless or a facility for alcohol or drug detoxification." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 43.20 is amended by adding a new section to article 1 to read: 06 Sec. 43.20.048. Homeless shelter and drug and alcohol treatment facility 07 contribution credit. (a) A taxpayer is allowed a credit against the tax due under this 08 chapter for cash contributions accepted by a nonprofit organization in existence on 09 January 1, 2012, that qualifies for exemption from taxation under 26 U.S.C. 501(c)(3) 10 (Internal Revenue Code) and that operates principally to provide 11 (1) an emergency shelter for the homeless; 12 (2) a facility for alcohol or drug detoxification; or 13 (3) a combination of the programs described in (1) and (2) of this 14 subsection.
01 (b) The amount of the credit is the lesser of 50 percent of the amount of the 02 cash contribution or $200,000. 03 (c) The department shall develop and implement procedures by which a 04 taxpayer may submit information regarding the taxpayer's proposed contribution to the 05 department and request a preliminary determination of whether the contribution 06 qualifies for the tax credit under this section. A preliminary determination by the 07 department that the contribution qualifies for the credit is binding, unless the 08 department determines that the taxpayer has made a material misrepresentation in the 09 taxpayer's submission. 10 (d) The commissioner shall, by January 1 of each year, provide to the 11 legislature the total amount of contributions to emergency shelters for the homeless 12 reported, the total amount of contributions to facilities for alcohol or drug 13 detoxification reported, the total amount of contributions to facilities that provide both 14 emergency shelter for the homeless and alcohol or drug detoxification reported, the 15 total amount of contributions reported, and the total amount of credit claimed under 16 this section during the previous calendar year. 17 (e) A contribution claimed as a credit under this section may not 18 (1) be the basis for a credit claimed under another provision of this 19 title; or 20 (2) also be allowed as a deduction under 26 U.S.C. 170 against the tax 21 imposed by this chapter. 22 (f) The credit under this section may not reduce a person's tax liability under 23 this chapter to below zero for any tax year. An unused credit or portion of a credit not 24 used under this section for a tax year may not be sold, traded, transferred, or applied in 25 a subsequent tax year. 26 * Sec. 2. AS 43.20.048 is repealed January 1, 2018.