00                            SENATE BILL NO. 175                                                                          
01 "An Act establishing a net corporate income tax exemption for entities in Port                                          
02 MacKenzie; and providing for an effective date."                                                                        
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 43.20.012 is amended by adding a new subsection to read:                                           
05            (e)  A corporation primarily operating in Port MacKenzie is exempt from the                                  
06       tax imposed under this chapter.                                                                                   
07    * Sec. 2. AS 43.20.012(e) is repealed.                                                                             
08    * Sec. 3. Section 1 of this Act takes effect immediately under AS 01.10.070(c).                                    
09    * Sec. 4. Section 2 of this Act takes effect July 1, 2035.