Legislature(2005 - 2006)SENATE FINANCE 532

04/25/2005 09:00 AM FINANCE


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* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ SB 133 AVIATION ADVISORY BOARD TELECONFERENCED
Moved SB 133 Out of Committee
+ SB 150 ALASKA CHILDREN'S TRUST FUND GRANTS TELECONFERENCED
Moved CSSB 150(HES) Out of Committee
Bills Previously Heard/Scheduled
+= SB 151 DECOUPLING FROM FED TAX DEDUCTION TELECONFERENCED
Moved SB 151 Out of Committee
+= SB 71 NONUNION PUBLIC EMPLOYEE SALARY & BENEFIT TELECONFERENCED
Heard & Held
                                                                                                                                
     SENATE BILL NO. 151                                                                                                        
     "An  Act excepting  from  the  Alaska Net  Income  Tax Act  the                                                            
     federal  deduction  regarding  income attributable  to  certain                                                            
     domestic production  activities; and providing for an effective                                                            
     date."                                                                                                                     
                                                                                                                                
                                                                                                                                
This  was the third  hearing  for this  bill in  the Senate  Finance                                                            
Committee.                                                                                                                      
                                                                                                                                
Co-Chair  Green asked whether  the Department  of Revenue wished  to                                                            
present further testimony.                                                                                                      
                                                                                                                                
CHUCK HARLAMERT,  Juneau Section Chief, Tax Division,  Department of                                                            
Revenue,  stated   that  he  was   available  to  answer   Committee                                                            
questions.                                                                                                                      
                                                                                                                                
9:38:12 AM/ 9:38:40 AM                                                                                                      
                                                                                                                                
Co-Chair Green  stated that a revised  Department of Revenue  fiscal                                                            
note, dated April 19, 2005, has been provided.                                                                                  
                                                                                                                                
Mr. Harlamert  noted  that the  only revision  included  in the  new                                                            
fiscal  note is  that  the revenue  column  reflects  an  $8,230,000                                                            
revenue increase  in FY 2006.  An upward  trend would continue  with                                                            
$14,995,000 being the projected revenue increase in FY 2011.                                                                    
                                                                                                                                
Co-Chair  Green characterized  this  legislation are  being "a  good                                                            
thing for the State budget".                                                                                                    
                                                                                                                                
Mr. Harlamert  affirmed that  this legislation  would reinstate  the                                                            
money.                                                                                                                          
                                                                                                                                
Co-Chair  Green voiced  that  the legislation  would  "restore"  the                                                            
money.                                                                                                                          
                                                                                                                                
Mr. Harlament affirmed.                                                                                                         
                                                                                                                                
Co-Chair  Green noted  that other  details of  this legislation  had                                                            
been discussed during its previous hearings.                                                                                    
                                                                                                                                
Co-Chair  Wilken  moved  to  report the  bill  from  Committee  with                                                            
individual recommendations and accompanying fiscal note.                                                                        
                                                                                                                                
There being no objection,  SB 151 was REPORTED from Committee with a                                                            
new indeterminate  Department  of Revenue  Fiscal Note, dated  April                                                            
19, 2005.                                                                                                                       
                                                                                                                                
9:40:49 AM                                                                                                                    
                                                                                                                                

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