CSHB 344(FSH): "An Act relating to the salmon product development tax credit; and providing for an effective date by amending an effective date in sec. 7, ch. 57, SLA 2003, as amended by sec. 4, ch. 3, SLA 2006, and by sec. 4, ch. 8, SLA 2008."
00 CS FOR HOUSE BILL NO. 344(FSH) 01 "An Act relating to the salmon product development tax credit; and providing for an 02 effective date by amending an effective date in sec. 7, ch. 57, SLA 2003, as amended by 03 sec. 4, ch. 3, SLA 2006, and by sec. 4, ch. 8, SLA 2008." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 43.75.035(b) is amended to read: 06 (b) The amount of the tax credit applied against taxes under this section may 07 not 08 (1) exceed 50 percent of the taxpayer's tax liability incurred under this 09 chapter for processing of salmon during the tax year; or 10 (2) be claimed for property first placed into service after December 31, 11 2015 [2011]. 12 * Sec. 2. AS 43.75.035(j)(3) is amended to read: 13 (3) "qualified investment" means the investment cost in depreciable 14 tangible personal property with a useful life of three years or more to be used
01 predominantly to perform a processing, packaging, or product finishing function that 02 is a significant component in producing value-added salmon products beyond gutting 03 of the salmon; in this paragraph, "property" 04 (A) includes 05 (i) filleting, skinning, portioning, mincing, forming, 06 extruding, stuffing, injecting, mixing, marinating, preserving, drying, 07 smoking, brining, packaging, blast freezing, ice making, or pin bone 08 removal equipment; 09 (ii) new parts to convert an existing can seamer to pop- 10 top can production; and 11 (iii) conveyors used specifically in the act of producing 12 a value-added salmon product; 13 (B) does not include 14 (i) vehicles, forklifts, conveyors not used specifically in 15 the act of producing a value-added salmon product, cranes, pumps, or 16 other equipment used to transport salmon or salmon products, knives, 17 gloves, tools, supplies and materials, equipment that is not processing, 18 packaging, or product finishing equipment, or other equipment the use 19 of which is incidental to the production, packaging, or finishing of 20 value-added salmon products; or 21 (ii) the overhaul, retooling, or modification of new or 22 existing property, except for new parts to convert an existing can 23 seamer to pop-top can production; 24 * Sec. 3. Section 7, ch. 57, SLA 2003, as amended by sec. 4, ch. 3, SLA 2006, and by sec. 4, 25 ch. 8, SLA 2008, is amended to read: 26 Sec. 7. Section 3, ch. 57, SLA 2003, [OF THIS ACT] takes effect on the 27 earlier of the following: 28 (1) January 1, 2019 [2015]; or 29 (2) the date of the attorney general's notification to the lieutenant 30 governor and to the revisor of statutes that 31 (A) a court has entered final judgment that AS 43.75.035 or
01 43.75.036, added by sec. 1, ch. 57, SLA 2003, violates the commerce clause 02 contained in art. I, sec. 8, United States Constitution; and 03 (B) the time for an appeal of that judgment has expired, or, if 04 an appeal was taken, a final order on the appeal has been entered that 05 AS 43.75.035 or 43.75.036, added by sec. 1, ch. 57, SLA 2003, violates the 06 commerce clause contained in the United States Constitution.