00 SENATE BILL NO. 77
01 "An Act extending the liquefied natural gas storage facility tax credit; and providing for
02 an effective date."
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
04 * Section 1. AS 43.20.047(a) is amended to read:
05 (a) A person that is an owner of a liquefied natural gas storage facility
06 described in (b) of this section that commences commercial operation before June 30,
07 2021 [JANUARY 1, 2020], may apply a refundable credit against a tax liability that
08 may be imposed on the person under this chapter or receive the amount of the credit in
09 the form of a payment for the taxable year in which the liquefied natural gas storage
10 facility commences commercial operation. The tax credit or payment under this
11 section may not exceed the lesser of $15,000,000 or 50 percent of the costs incurred to
12 establish or expand the liquefied natural gas storage facility. The tax credit in this
13 section is in addition to any other credit under this chapter for which the person is
01 * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).