CSSB 138(L&C): "An Act relating to a corporation income tax credit for contributions by a person owning or operating a commercial passenger vessel to a qualified trade association that was awarded a contract by the Department of Commerce, Community, and Economic Development, and used for planning and executing a destination tourism marketing campaign."
00 CS FOR SENATE BILL NO. 138(L&C) 01 "An Act relating to a corporation income tax credit for contributions by a person 02 owning or operating a commercial passenger vessel to a qualified trade association that 03 was awarded a contract by the Department of Commerce, Community, and Economic 04 Development, and used for planning and executing a destination tourism marketing 05 campaign." 06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 07 * Section 1. AS 43.20 is amended by adding a new section to article 1 to read: 08 Sec. 43.20.047. Tourism marketing tax credit. (a) A person owning or 09 operating a commercial passenger vessel in the state is entitled to a credit against the 10 tax due under this chapter for a cash contribution 11 (1) accepted by the qualified trade association that was awarded a 12 contract under AS 44.33.125(a); 13 (2) used for the destination tourism marketing campaign that was
01 planned and executed under the contract issued under AS 44.33.125(a); and 02 (3) not used to provide the person making the contribution with a 03 direct or tangible benefit. 04 (b) The credit in (a) of this section may not be less than zero and may not 05 exceed the difference between the tax liability for the person owning or operating a 06 commercial passenger vessel in the state determined under AS 43.20.011(e) in 07 conjunction with AS 43.20.021(h) and (i) and the tax liability for the person owning or 08 operating a commercial passenger vessel in the state determined under 09 AS 43.20.011(e) in conjunction with AS 43.20.021 as that section read on 10 December 16, 2006. 11 (c) A credit or portion of a credit under this section may not be used to reduce 12 a person's total tax liability under this chapter for a calendar year below zero, and any 13 unused credit or portion of a credit not used under this section may not be applied in a 14 subsequent calendar year. 15 (d) In this section, "commercial passenger vessel" has the meaning given in 16 AS 43.52.295. 17 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to 18 read: 19 APPLICABILITY. AS 43.20.047, added by sec. 1 of this Act, applies to cash 20 contributions accepted and used after June 30, 2009, for the purposes described in 21 AS 43.20.047(a), added by sec. 1 of this Act.