Legislature(2021 - 2022)SENATE FINANCE 532
02/07/2022 01:00 PM Senate FINANCE
Note: the audio ![]()
and video ![]()
recordings are distinct records and are obtained from different sources. As such there may be key differences between the two. The audio recordings are captured by our records offices as the official record of the meeting and will have more accurate timestamps. Use the icons to switch between them.
| Audio | Topic |
|---|---|
| Start | |
| SB33 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| += | SB 33 | TELECONFERENCED | |
| + | TELECONFERENCED |
SENATE FINANCE COMMITTEE
February 7, 2022
1:47 p.m.
1:47:25 PM
CALL TO ORDER
Co-Chair Bishop called the Senate Finance Committee meeting
to order at 1:47 p.m.
MEMBERS PRESENT
Senator Click Bishop, Co-Chair
Senator Bert Stedman, Co-Chair
Senator Donny Olson
Senator Bill Wielechowski
Senator David Wilson
MEMBERS ABSENT
Senator Natasha von Imhof
Senator Lyman Hoffman
ALSO PRESENT
Erin Shine, Staff, Senator Click Bishop; Senator Gary
Stevens, Sponsor.
SUMMARY
SB 33 SEAFOOD PRODUCT DEVELOPMENT TAX CREDIT
SB 33 was HEARD and HELD in committee for further
consideration.
SENATE BILL NO. 33
"An Act relating to a seafood product development tax
credit; providing for an effective date by repealing
secs. 32 and 35, ch. 61, SLA 2014; and providing for
an effective date."
1:48:20 PM
Co-Chair Stedman MOVED to ADOPT the committee substitute
for SB 33, Work Draft 32-LS0308\O (Nauman, 2/7/22).
Co-Chair Bishop OBJECTED for discussion.
1:48:44 PM
ERIN SHINE, STAFF, SENATOR CLICK BISHOP, explained the
committee substitute. She read from a prepared statement:
Because the seafood product development tax credit
expired January 1, 2021, legislative legal recommended
that the bill be redrafted in the form that is before
you today for consideration with version O.
Basically, the prior version, version B, repealed a
repealer that has now been repealed.
To highlight the drafting issue, if you pulled the
2020 statute books on all our shelves, AS 43.75.035 is
repealed and is no longer there.
Version O reestablishes the repealed statutes as new
law changing it from AS 43.75.035 to AS 43.75.037
I'd like to note that version B and O look dissimilar
in bill draft form, however, they are accomplishing
the same thing with a few policy changes. The only
difference between the versions are the following
policy changes:
Page 3, Lines 21-22
- Version O defines "eligible fish" instead of
listing the fish in each subsection
o There are conforming changes throughout
the bill
- The inclusion of sablefish in the definition
of "eligible fish"
- Further defining that the tax credits apply
to "pacific cod", not "cod"
Page 5, line 20
- the tax credits are repealed January 1, 2027
And finally, Page 5, line 26
- the retroactive effective date was changed
from January 1, 2021, to be an immediate
effective date
1:51:10 PM
Co-Chair Bishop WITHDREW the OBJECTION. There being NO
further OBJECTION, it was so ordered.
Senator Wielechowski MOVED to ADOPT Amendment 1, 32-
LS0308\O.1.
Co-Chair Bishop OBJECTED for discussion.
Senator Wielechowski explained Amendment 1. He referred to
the document, "Indirect Expenditure Report from the
Legislative Finance Division" (copy on file). He cited that
there was a recommendation by the Legislative Finance
Division (LFD) to modify the confidentiality rules to
enable publication of more complete data usage on all tax
credits. He noted that LFD reiterated that it was hard to
determine how effective the tax credit was or how much it
cost the state and had recommended making changes. Page one
of the document was in response to Senator Wielechowski
contacting the LFD office with questions.
Senator Wielechowski continued that based on LFDs
response, he had asked the Legislative Legal Department to
draft the amendment. He simplified that the amendment would
simply allow the legislature to have points of data
including the total number of tax credits that were claimed
for each eligible fish, and the number of recipients. He
advised that no confidential information would be included.
1:54:37 PM
SENATOR GARY STEVENS, SPONSOR, commented positively on the
amendment.
Co-Chair Bishop WITHDREW the OBJECTION. There being NO
further OBJECTION, it was so ordered. Amendment 1 was
ADOPTED.
1:55:01 PM
AT EASE
1:55:13 PM
RECONVENED
Co-Chair Bishop stated that Amendment 1 would be
incorporated into a new CS, which would be considered in
committee the following day with an updated fiscal note.
SB 33 was HEARD and HELD in committee for further
consideration.
Co-Chair Bishop discussed the agenda for the following day.
ADJOURNMENT
1:56:25 PM
The meeting was adjourned at 1:56 p.m.
| Document Name | Date/Time | Subjects |
|---|---|---|
| SB 33 SFIN DOR-TAX Hearing Questions Reponses 02.02.2022.pdf |
SFIN 2/7/2022 1:00:00 PM |
SB 33 |
| SB 33 SFIN Hearing Questions Responses 02.03.2022.pdf |
SFIN 2/7/2022 1:00:00 PM |
SB 33 |
| SB 33 Support Yukon-Delta-FDA 2.5.2022.pdf |
SFIN 2/7/2022 1:00:00 PM |
SB 33 |
| SB 33 Support SE-Conf 2.7.2022.pdf |
SFIN 2/7/2022 1:00:00 PM |
SB 33 |
| SB 33 Work Draft ver. O 02.07.2022.pdf |
SFIN 2/7/2022 1:00:00 PM |
SB 33 |
| SB 33 Wielechowski Amendment 1 020722.pdf |
SFIN 2/7/2022 1:00:00 PM |
SB 33 |
| SB 33 Wielechowski Amendment Backup.pdf |
SFIN 2/7/2022 1:00:00 PM |
SB 33 |