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30th Legislature(2017-2018)

Bill Text 30th Legislature


00 Enrolled HB 398                                                                                                         
01 Relating to the allocation and apportionment of income of a public utility for purposes of the                          
02 Alaska Net Income Tax Act; and providing for an effective date.                                                         
03                           _______________                                                                               
04    * Section 1. AS 43.20 is amended by adding a new section to article 2 to read:                                       
05 Sec. 43.20.146. Public utilities. Notwithstanding sec. 2, art. IV, of AS 43.19                                          
06 (Multistate Tax Compact), and unless otherwise provided under AS 43.20.143 -                                            
07 43.20.145, a taxpayer that is a public utility shall allocate and apportion income in                                   
08       accordance with the remainder of art. IV of AS 43.19 (Multistate Tax Compact).                                    
09    * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to                            
10 read:                                                                                                                   
11       APPLICABILITY. AS 43.20.146, added by sec. 1 of this Act, does not apply to a                                     
12 taxpayer that files a return under AS 43.20 for a taxable year commencing before the effective                          
13 date of sec. 1 of this Act.                                                                                             
14    * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to                            
01 read:                                                                                                                   
02       TRANSITION: REGULATIONS. The Department of Revenue shall adopt regulations                                        
03 necessary to implement the changes made by this Act. The regulations take effect under                                  
04 AS 44.62 (Administrative Procedure Act), but not before January 1, 2019.                                                
05    * Sec. 4. Section 3 of this Act takes effect immediately under AS 01.10.070(c).                                      
06    * Sec. 5. Except as provided in sec. 4 of this Act, this Act takes effect January 1, 2019.                           
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