SB 223: "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 SENATE BILL NO. 223 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 that qualifies for 09 exemption from taxation under 26 U.S.C. 501(c)(3) (Internal Revenue Code) and that 10 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 the amount of the cash 02 contribution or $200,000. 03 (c) If a nonprofit organization that receives a contribution that is the basis of a 04 credit under this section requests an appropriation from the legislature, the request 05 shall document the contribution received and how the contribution was used. 06 (d) A contribution claimed as a credit under this section may not 07 (1) be the basis for a credit claimed under another provision of this 08 title; or 09 (2) also be allowed as a deduction under 26 U.S.C. 170 against the tax 10 imposed by this chapter. 11 (e) The credit under this section may not reduce a person's tax liability under 12 this chapter to below zero for any tax year. An unused credit or portion of a credit not 13 used under this section for a tax year may not be sold, traded, transferred, or applied in 14 a subsequent tax year.