Legislature(2001 - 2002)

2002-02-01 Senate Journal

Full Journal pdf

2002-02-01                     Senate Journal                      Page 2084
SB 267                                                                                            
SENATE BILL NO. 267 BY THE SENATE RULES COMMITTEE                                                   
BY REQUEST OF THE GOVERNOR, entitled:                                                               
          "An Act establishing the Alaska veterans' memorial                                        
          endowment fund and providing for credits against                                          
          certain taxes for contributions to that fund; relating to                                 
          other tax credits for certain contributions; and                                          
          providing for an effective date."                                                         
was read the first time and referred to the State Affairs, Labor and                                
Commerce and Finance Committees.                                                                    
The following fiscal information was published today:                                               
 Fiscal Note No. 1, Department of Military and Veterans' Affairs                                    
 Fiscal Note No. 2, indeterminate, Department of Revenue                                            
 Fiscal Note No. 3, indeterminate, Department of Community and                                      
  Economic Development                                                                              
Governor's transmittal letter dated January 29:                                                     
Dear President Halford:                                                                             
There are scores of memorials to veterans and monuments to the                                      
military throughout the state, owned by various entities. These                                     
memorials and monuments should be in excellent condition at all                                     

2002-02-01                     Senate Journal                      Page 2085
times to convey proper respect and to honor our former and present                                  
members of the military who served our nation and state and yet, these                              
tributes to our military are in varying stages of upkeep.                                           
This bill I am transmitting establishes the Alaska Veterans' Memorial                               
Endowment Fund to help fund efforts to maintain our current                                         
memorials and provide a possible source of funding for new                                          
memorials. It is part of a package of legislation I am introducing this                             
year, and introduced last year, to offer proper acknowledgment and                                  
appreciation of our veterans.                                                                       
The bill proposes to finance the fund partly through contributions that                             
will be eligible for certain state corporate tax credits. Primary use of                            
the funds will be for maintaining veterans' memorials. Once this                                    
purpose is substantially satisfied in a fiscal year, the fund may be used                           
to establish new memorials and to finance similar projects to recognize                             
efforts of the military.                                                                            
The Veterans' Memorial Endowment Fund would be administered by                                      
the commissioner of revenue with a portion of the fund earnings                                     
available for appropriation for maintenance and establishment of                                    
memorials. A contributing taxpayer would receive a credit that could                                
be applied against certain Alaska taxes, such as insurance premium                                  
taxes, income taxes, oil and gas exploration and production taxes,                                  
pipeline transportation property taxes, mining license taxes, and                                   
fisheries taxes. Tax credits would be limited in the same manner as                                 
they are for existing tax credit programs.                                                          
Many Alaskans agree the state and its citizens should exhibit due                                   
respect to our veterans and military by maintaining these memorials                                 
and monuments. Dozens of Alaska corporations, businesses, and                                       
individuals have readily pledged contributions to this worthwhile                                   
endeavor, with the expectation of a matching state appropriation. The                               
state is not obliged to maintain all memorials and monuments, yet it is                             
appropriate for the state to share in the cost by providing modest                                  
matching grants. Therefore, I am proposing with this bill a one-time                                
state contribution to the fund of $125,000.                                                         

2002-02-01                     Senate Journal                      Page 2086
I urge you to take favorable action on this measure and my entire                                   
package of veterans' legislation.                                                                   
Tony Knowles