HCS CSSB 236(FIN): "An Act relating to tax credits for cash contributions by taxpayers that are accepted for certain educational purposes and facilities; and providing for an effective date."
00 HOUSE CS FOR CS FOR SENATE BILL NO. 236(FIN) 01 "An Act relating to tax credits for cash contributions by taxpayers that are accepted for 02 certain educational purposes and facilities; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 21.06.110 is amended to read: 05 Sec. 21.06.110. Director's annual report. As early in each calendar year as is 06 reasonably possible, the director shall prepare and deliver an annual report to the 07 commissioner, who shall notify the legislature that the report is available, showing, 08 with respect to the preceding calendar year, 09 (1) a list of the authorized insurers transacting insurance in this state, 10 with a summary of their financial statement as the director considers appropriate; 11 (2) the name of each insurer whose certificate of authority was 12 surrendered, suspended, or revoked during the year and the cause of surrender, 13 suspension, or revocation; 14 (3) the name of each insurer authorized to do business in this state
01 against which delinquency or similar proceedings were instituted and, if against an 02 insurer domiciled in this state, a concise statement of the facts with respect to each 03 proceeding and its present status; 04 (4) a statement in regard to examination of rating organizations, 05 advisory organizations, joint underwriters, and joint reinsurers as required by 06 AS 21.39.120; 07 (5) the receipt and expenses of the division for the year; 08 (6) recommendations of the director as to amendments or 09 supplementation of laws affecting insurance or the office of director; 10 (7) statistical information regarding health insurance, including the 11 number of individual and group policies sold or terminated in the state; this paragraph 12 does not authorize the director to require an insurer to release proprietary information; 13 (8) the annual percentage of health claims paid in the state that meets 14 the requirements of AS 21.36.128(a) and (d); [AND] 15 (9) the total amount of contributions reported and the total 16 amount of credit claimed under AS 21.89.070 and 21.89.075; and 17 (10) other pertinent information and matters the director considers 18 proper. 19 * Sec. 2. AS 21.89.070(a) is amended to read: 20 (a) A taxpayer is allowed a credit against the tax due under AS 21.09.210 or 21 AS 21.66.110 for cash contributions accepted 22 (1) for direct instruction, research, and educational support purposes, 23 including library and museum acquisitions, and contributions to endowment, by an 24 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 25 four-year college accredited by a regional accreditation association; 26 (2) for secondary school level vocational education courses, [AND] 27 programs, and facilities by a school district in the state; [AND] 28 (3) for vocational education courses, programs, and facilities by a 29 state-operated vocational technical education and training school; and 30 (4) for a facility by a nonprofit, public or private, Alaska two-year 31 or four-year college accredited by a regional accreditation association.
01 * Sec. 3. AS 21.89.070(a), as amended by sec. 2 of this Act, is amended to read: 02 (a) A taxpayer is allowed a credit against the tax due under AS 21.09.210 or 03 AS 21.66.110 for cash contributions accepted 04 (1) for direct instruction, research, and educational support purposes, 05 including library and museum acquisitions, and contributions to endowment, by an 06 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 07 four-year college accredited by a regional accreditation association; 08 (2) for secondary school level vocational education courses and [,] 09 programs [, AND FACILITIES] by a school district in the state; and 10 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 11 AND FACILITIES] by a state-operated vocational technical education and training 12 school [; AND 13 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 14 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 15 REGIONAL ACCREDITATION ASSOCIATION]. 16 * Sec. 4. AS 21.89.070(b) is amended to read: 17 (b) The amount of the credit is [THE LESSER OF 18 (1)] an amount equal to 19 (1) [(A)] 50 percent of contributions of not more than $100,000; 20 (2) [AND (B)] 100 percent of the next $200,000 [$100,000] of 21 contributions; and 22 (3) 50 percent of the amount of contributions that exceed $300,000 23 [OR 24 (2) 50 PERCENT OF THE TAXPAYER'S TAX LIABILITY UNDER 25 THIS TITLE]. 26 * Sec. 5. AS 21.89.070(b), as amended by sec. 4 of this Act, is amended to read: 27 (b) The amount of the credit is the lesser of 28 (1) an amount equal to 29 (A) [(1)] 50 percent of contributions of not more than 30 $100,000; and 31 (B) [(2)] 100 percent of the next $100,000 [$200,000] of
01 contributions; or 02 (2) 50 percent of the taxpayer's tax liability under this title [AND 03 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 04 EXCEED $300,000]. 05 * Sec. 6. AS 21.89.070(d) is amended to read: 06 (d) A contribution claimed as a credit under this section may not 07 (1) be the basis for a credit claimed [AS A CREDIT] under more 08 than one provision of this title; and 09 (2) when combined with contributions that are the basis for credits 10 taken during the taxpayer's tax year under AS 21.89.075, AS 43.20.014, 11 AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in 12 the total amount of credits exceeding $5,000,000; if the taxpayer is a member of 13 an affiliated group, then the total amount of credits may not exceed $5,000,000 14 for the affiliated group; in this paragraph, "affiliated group" has the meaning 15 given in AS 43.20.073 [EXCEED $150,000]. 16 * Sec. 7. AS 21.89.070(d), as amended by sec. 6 of this Act, is amended to read: 17 (d) A contribution claimed as a credit under this section may not 18 (1) be the basis for a credit claimed under more than one provision of 19 this title; and 20 (2) when combined with contributions that are the basis for credits 21 taken during the taxpayer's tax year under AS 21.89.075, AS 43.20.014, 22 AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in 23 the total amount of credits exceeding $150,000 [$5,000,000; IF THE TAXPAYER IS 24 A MEMBER OF AN AFFILIATED GROUP, THEN THE TOTAL AMOUNT OF 25 CREDITS MAY NOT EXCEED $5,000,000 FOR THE AFFILIATED GROUP; IN 26 THIS PARAGRAPH, "AFFILIATED GROUP" HAS THE MEANING GIVEN IN 27 AS 43.20.073]. 28 * Sec. 8. AS 21.89.070 is amended by adding a new subsection to read: 29 (f) The credit under this section may not reduce a person's tax liability under 30 AS 21.09.210 or AS 21.66.110 to below zero for any tax year. An unused credit or 31 portion of a credit not used under this section for a tax year may not be sold, traded,
01 transferred, or applied in a subsequent tax year. 02 * Sec. 9. AS 21.89.075(c) is amended to read: 03 (c) A contribution claimed by a taxpayer as a credit under this section may not 04 (1) be the basis for a credit claimed [AS A CREDIT] under more 05 than one provision of this title; 06 (2) when combined with contributions that are the basis for credits 07 taken during the taxpayer's tax year under AS 21.89.070, AS 43.20.014, 08 AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in 09 the total amount of credits exceeding $5,000,000; if the taxpayer is a member of 10 an affiliated group, then the total amount of credits may not exceed $5,000,000 11 for the affiliated group; in this paragraph, "affiliated group" has the meaning 12 given in AS 43.20.073 [EXCEED $150,000]; or 13 (3) be claimed as a credit unless the contribution qualifies for the credit 14 under (d) of this section. 15 * Sec. 10. AS 21.89.075(c), as amended by sec. 9 of this Act, is amended to read: 16 (c) A contribution claimed by a taxpayer as a credit under this section may not 17 (1) be the basis for a credit claimed under more than one provision of 18 this title; 19 (2) when combined with contributions that are the basis for credits 20 taken during the taxpayer's tax year under AS 21.89.070, AS 43.20.014, 21 AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in 22 the total amount of credits exceeding $150,000 [$5,000,000; IF THE TAXPAYER IS 23 A MEMBER OF AN AFFILIATED GROUP, THEN THE TOTAL AMOUNT OF 24 CREDITS MAY NOT EXCEED $5,000,000 FOR THE AFFILIATED GROUP; IN 25 THIS PARAGRAPH, "AFFILIATED GROUP" HAS THE MEANING GIVEN IN 26 AS 43.20.073]; or 27 (3) be claimed as a credit unless the contribution qualifies for the credit 28 under (d) of this section. 29 * Sec. 11. AS 21.89.075 is amended by adding a new subsection to read: 30 (f) The credit under this section may not reduce a person's tax liability under 31 AS 21.09.210 to below zero for any tax year. An unused credit or portion of a credit
01 not used under this section for a calendar year may not be sold, traded, transferred, or 02 applied in a subsequent calendar year. 03 * Sec. 12. AS 43.05.010 is amended to read: 04 Sec. 43.05.010. Duties of commissioner. The commissioner of revenue shall 05 (1) exercise general supervision and direct the activities of the 06 Department of Revenue; 07 (2) supervise the fiscal affairs and responsibilities of the department; 08 (3) prescribe uniform rules for investigations and hearings; 09 (4) keep a record of all departmental proceedings, record and file all 10 bonds, and assume custody of returns, reports, papers, and documents of the 11 department; 12 (5) adopt a seal and affix it to each order, process, or certificate issued 13 by the commissioner; 14 (6) keep a record of each order, process, and certificate issued by the 15 commissioner, and keep the record open to public inspection at all reasonable times; 16 (7) hold hearings and investigations necessary for the administration of 17 state tax and revenue laws; 18 (8) except as provided in AS 43.05.405 - 43.05.499 and in 19 AS 44.64.030, hear and determine appeals of a matter within the jurisdiction of the 20 Department of Revenue and enter orders on the appeals that are final unless reversed 21 or modified by the courts; 22 (9) issue subpoenas to require the attendance of witnesses and the 23 production of necessary books, papers, documents, correspondence, and other things; 24 (10) order the taking of depositions before a person competent to 25 administer oaths; 26 (11) administer oaths and take acknowledgments; 27 (12) request the attorney general for rulings on the interpretation of the 28 tax and revenue laws administered by the department; 29 (13) call upon the attorney general to institute actions for recovery of 30 unpaid taxes, fees, excises, additions to tax, penalties, and interest; 31 (14) issue warrants for the collection of unpaid tax penalties and
01 interest and take all steps necessary and proper to enforce full and complete 02 compliance with the tax, license, excise, and other revenue laws of the state; 03 (15) report to the legislature before February 15 of each year the 04 total amount of contributions reported and the total amount of credit claimed 05 during the previous calendar year under AS 43.20.014, AS 43.55.019, 06 AS 43.56.018, AS 43.65.018, AS 43.75.018, and AS 43.77.045 [REPEALED]. 07 * Sec. 13. AS 43.20.014(a) is amended to read: 08 (a) A taxpayer is allowed a credit against the tax due under this chapter for 09 cash contributions accepted 10 (1) for direct instruction, research, and educational support purposes, 11 including library and museum acquisitions, and contributions to endowment, by an 12 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 13 four-year college accredited by a regional accreditation association; 14 (2) for secondary school level vocational education courses, [AND] 15 programs, and facilities by a school district in the state; [AND] 16 (3) for vocational education courses, programs, and facilities by a 17 state-operated vocational technical education and training school; and 18 (4) for a facility by a nonprofit, public or private, Alaska two-year 19 or four-year college accredited by a regional accreditation association. 20 * Sec. 14. AS 43.20.014(a), as amended by sec. 13 of this Act, is amended to read: 21 (a) A taxpayer is allowed a credit against the tax due under this chapter for 22 cash contributions accepted 23 (1) for direct instruction, research, and educational support purposes, 24 including library and museum acquisitions, and contributions to endowment, by an 25 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 26 four-year college accredited by a regional accreditation association; 27 (2) for secondary school level vocational education courses and [,] 28 programs [, AND FACILITIES] by a school district in the state; and 29 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 30 AND FACILITIES] by a state-operated vocational technical education and training 31 school [; AND
01 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 02 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 03 REGIONAL ACCREDITATION ASSOCIATION]. 04 * Sec. 15. AS 43.20.014(b) is amended to read: 05 (b) The amount of the credit is 06 (1) 50 percent of contributions of not more than $100,000; [AND] 07 (2) 100 percent of the next $200,000 [$100,000] of contributions; and 08 (3) 50 percent of the amount of contributions that exceed $300,000. 09 * Sec. 16. AS 43.20.014(b), as amended by sec. 15 of this Act, is amended to read: 10 (b) The amount of the credit is 11 (1) 50 percent of contributions of not more than $100,000; and 12 (2) 100 percent of the next $100,000 [$200,000] of contributions [; 13 AND 14 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 15 EXCEED $300,000]. 16 * Sec. 17. AS 43.20.014(d) is amended to read: 17 (d) A contribution claimed as a credit under this section may not 18 (1) be the basis for a credit claimed [AS A CREDIT] under another 19 provision of this title; 20 (2) also be allowed as a deduction under 26 U.S.C. 170 against the tax 21 imposed by this chapter; and 22 (3) when combined with contributions that are the basis for credits 23 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.55.019, 24 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 25 amount of credits exceeding $5,000,000; if the taxpayer is a member of an 26 affiliated group, then the total amount of credits may not exceed $5,000,000 for 27 the affiliated group; in this paragraph, "affiliated group" has the meaning given 28 in AS 43.20.073 [EXCEED $150,000]. 29 * Sec. 18. AS 43.20.014(d), as amended by sec. 17 of this Act, is amended to read: 30 (d) A contribution claimed as a credit under this section may not 31 (1) be the basis for a credit claimed under another provision of this
01 title; 02 (2) also be allowed as a deduction under 26 U.S.C. 170 against the tax 03 imposed by this chapter; and 04 (3) when combined with contributions that are the basis for credits 05 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.55.019, 06 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 07 amount of credits exceeding $150,000 [$5,000,000; IF THE TAXPAYER IS A 08 MEMBER OF AN AFFILIATED GROUP, THEN THE TOTAL AMOUNT OF 09 CREDITS MAY NOT EXCEED $5,000,000 FOR THE AFFILIATED GROUP; IN 10 THIS PARAGRAPH, "AFFILIATED GROUP" HAS THE MEANING GIVEN IN 11 AS 43.20.073]. 12 * Sec. 19. AS 43.20.014 is amended by adding a new subsection to read: 13 (f) The credit under this section may not reduce a person's tax liability under 14 this chapter to below zero for any tax year. An unused credit or portion of a credit not 15 used under this section for a tax year may not be sold, traded, transferred, or applied in 16 a subsequent tax year. 17 * Sec. 20. AS 43.55.019(a) is amended to read: 18 (a) A producer of oil or gas is allowed a credit against the tax due under this 19 chapter for cash contributions accepted 20 (1) for direct instruction, research, and educational support purposes, 21 including library and museum acquisitions, and contributions to endowment, by an 22 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 23 four-year college accredited by a regional accreditation association; 24 (2) for secondary school level vocational education courses, [AND] 25 programs, and facilities by a school district in the state; [AND] 26 (3) for vocational education courses, programs, and facilities by a 27 state-operated vocational technical education and training school; and 28 (4) for a facility by a nonprofit, public or private, Alaska two-year 29 or four-year college accredited by a regional accreditation association. 30 * Sec. 21. AS 43.55.019(a), as amended by sec. 20 of this Act, is amended to read: 31 (a) A producer of oil or gas is allowed a credit against the tax due under this
01 chapter for cash contributions accepted 02 (1) for direct instruction, research, and educational support purposes, 03 including library and museum acquisitions, and contributions to endowment, by an 04 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 05 four-year college accredited by a regional accreditation association; 06 (2) for secondary school level vocational education courses and [,] 07 programs [, AND FACILITIES] by a school district in the state; and 08 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 09 AND FACILITIES] by a state-operated vocational technical education and training 10 school [; AND 11 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 12 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 13 REGIONAL ACCREDITATION ASSOCIATION]. 14 * Sec. 22. AS 43.55.019(b) is amended to read: 15 (b) The amount of the credit is 16 (1) 50 percent of contributions of not more than $100,000; [AND] 17 (2) 100 percent of the next $200,000 [$100,000] of contributions; and 18 (3) 50 percent of the amount of contributions that exceed $300,000. 19 * Sec. 23. AS 43.55.019(b), as amended by sec. 22 of this Act, is amended to read: 20 (b) The amount of the credit is 21 (1) 50 percent of contributions of not more than $100,000; and 22 (2) 100 percent of the next $100,000 [$200,000] of contributions [; 23 AND 24 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 25 EXCEED $300,000]. 26 * Sec. 24. AS 43.55.019(d) is amended to read: 27 (d) A contribution claimed as a credit under this section may not 28 (1) be the basis for a credit claimed [AS A CREDIT] under another 29 provision of this title; and 30 (2) when combined with contributions that are the basis for credits 31 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014,
01 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 02 amount of credits exceeding $5,000,000; if the taxpayer is a member of an 03 affiliated group, then the total amount of credits may not exceed $5,000,000 for 04 the affiliated group; in this paragraph, "affiliated group" has the meaning given 05 in AS 43.20.073 [EXCEED $150,000]. 06 * Sec. 25. AS 43.55.019(d), as amended by sec. 24 of this Act, is amended to read: 07 (d) A contribution claimed as a credit under this section may not 08 (1) be the basis for a credit claimed under another provision of this 09 title; and 10 (2) when combined with contributions that are the basis for credits 11 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 12 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 13 amount of credits exceeding $150,000 [$5,000,000; IF THE TAXPAYER IS A 14 MEMBER OF AN AFFILIATED GROUP, THEN THE TOTAL AMOUNT OF 15 CREDITS MAY NOT EXCEED $5,000,000 FOR THE AFFILIATED GROUP; IN 16 THIS PARAGRAPH, "AFFILIATED GROUP" HAS THE MEANING GIVEN IN 17 AS 43.20.073]. 18 * Sec. 26. AS 43.55.019 is amended by adding a new subsection to read: 19 (f) The credit under this section may not reduce a person's tax liability under 20 this chapter to below zero for any tax year. An unused credit or portion of a credit not 21 used under this section for a tax year may not be sold, traded, transferred, or applied in 22 a subsequent tax year. 23 * Sec. 27. AS 43.56.018(a) is amended to read: 24 (a) The owner of property taxable under this chapter is allowed a credit 25 against the tax due under this chapter for cash contributions accepted 26 (1) for direct instruction, research, and educational support purposes, 27 including library and museum acquisitions, and contributions to endowment, by an 28 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 29 four-year college accredited by a regional accreditation association; 30 (2) for secondary school level vocational education courses, [AND] 31 programs, and facilities by a school district in the state; [AND]
01 (3) for vocational education courses, programs, and facilities by a 02 state-operated vocational technical education and training school; and 03 (4) for a facility by a nonprofit, public or private, Alaska two-year 04 or four-year college accredited by a regional accreditation association. 05 * Sec. 28. AS 43.56.018(a), as amended by sec. 27 of this Act, is amended to read: 06 (a) The owner of property taxable under this chapter is allowed a credit 07 against the tax due under this chapter for cash contributions accepted 08 (1) for direct instruction, research, and educational support purposes, 09 including library and museum acquisitions, and contributions to endowment, by an 10 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 11 four-year college accredited by a regional accreditation association; 12 (2) for secondary school level vocational education courses and [,] 13 programs [, AND FACILITIES] by a school district in the state; and 14 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 15 AND FACILITIES] by a state-operated vocational technical education and training 16 school [; AND 17 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 18 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 19 REGIONAL ACCREDITATION ASSOCIATION]. 20 * Sec. 29. AS 43.56.018(b) is amended to read: 21 (b) The amount of the credit is 22 (1) 50 percent of contributions of not more than $100,000; [AND] 23 (2) 100 percent of the next $200,000 [$100,000] of contributions; and 24 (3) 50 percent of the amount of contributions that exceed $300,000. 25 * Sec. 30. AS 43.56.018(b), as amended by sec. 29 of this Act, is amended to read: 26 (b) The amount of the credit is 27 (1) 50 percent of contributions of not more than $100,000; and 28 (2) 100 percent of the next $100,000 [$200,000] of contributions [; 29 AND 30 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 31 EXCEED $300,000].
01 * Sec. 31. AS 43.56.018(d) is amended to read: 02 (d) A contribution claimed as a credit under this section may not 03 (1) be the basis for a credit claimed [AS A CREDIT] under another 04 provision of this title; and 05 (2) when combined with contributions that are the basis for credits 06 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 07 AS 43.55.019, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 08 amount of credits exceeding $5,000,000; if the taxpayer is a member of an 09 affiliated group, then the total amount of credits may not exceed $5,000,000 for 10 the affiliated group; in this paragraph, "affiliated group" has the meaning given 11 in AS 43.20.073 [EXCEED $150,000]. 12 * Sec. 32. AS 43.56.018(d), as amended by sec. 31 of this Act, is amended to read: 13 (d) A contribution claimed as a credit under this section may not 14 (1) be the basis for a credit claimed under another provision of this 15 title; and 16 (2) when combined with contributions that are the basis for credits 17 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 18 AS 43.55.019, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 19 amount of credits exceeding $150,000 [$5,000,000; IF THE TAXPAYER IS A 20 MEMBER OF AN AFFILIATED GROUP, THEN THE TOTAL AMOUNT OF 21 CREDITS MAY NOT EXCEED $5,000,000 FOR THE AFFILIATED GROUP; IN 22 THIS PARAGRAPH, "AFFILIATED GROUP" HAS THE MEANING GIVEN IN 23 AS 43.20.073]. 24 * Sec. 33. AS 43.56.018 is amended by adding a new subsection to read: 25 (f) The credit under this section may not reduce a person's tax liability under 26 this chapter to below zero for any tax year. An unused credit or portion of a credit not 27 used under this section for a tax year may not be sold, traded, transferred, or applied in 28 a subsequent tax year. 29 * Sec. 34. AS 43.65.018(a) is amended to read: 30 (a) A person engaged in the business of mining in the state is allowed a credit 31 against the tax due under this chapter for cash contributions accepted
01 (1) for direct instruction, research, and educational support purposes, 02 including library and museum acquisitions, and contributions to endowment, by an 03 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 04 four-year college accredited by a regional accreditation association; 05 (2) for secondary school level vocational education courses, [AND] 06 programs, and facilities by a school district in the state; [AND] 07 (3) for vocational education courses, programs, and facilities by a 08 state-operated vocational technical education and training school; and 09 (4) for a facility by a nonprofit, public or private, Alaska two-year 10 or four-year college accredited by a regional accreditation association. 11 * Sec. 35. AS 43.65.018(a), as amended by sec. 34 of this Act, is amended to read: 12 (a) A person engaged in the business of mining in the state is allowed a credit 13 against the tax due under this chapter for cash contributions accepted 14 (1) for direct instruction, research, and educational support purposes, 15 including library and museum acquisitions, and contributions to endowment, by an 16 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 17 four-year college accredited by a regional accreditation association; 18 (2) for secondary school level vocational education courses and [,] 19 programs [, AND FACILITIES] by a school district in the state; and 20 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 21 AND FACILITIES] by a state-operated vocational technical education and training 22 school [; AND 23 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 24 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 25 REGIONAL ACCREDITATION ASSOCIATION]. 26 * Sec. 36. AS 43.65.018(b) is amended to read: 27 (b) The amount of the credit is 28 (1) 50 percent of contributions of not more than $100,000; [AND] 29 (2) 100 percent of the next $200,000 [$100,000] of contributions; and 30 (3) 50 percent of the amount of contributions that exceed $300,000. 31 * Sec. 37. AS 43.65.018(b), as amended by sec. 36 of this Act, is amended to read:
01 (b) The amount of the credit is 02 (1) 50 percent of contributions of not more than $100,000; and 03 (2) 100 percent of the next $100,000 [$200,000] of contributions [; 04 AND 05 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 06 EXCEED $300,000]. 07 * Sec. 38. AS 43.65.018(d) is amended to read: 08 (d) A contribution claimed as a credit under this section may not 09 (1) be the basis for a credit claimed [AS A CREDIT] under another 10 provision of this title; and 11 (2) when combined with contributions that are the basis for credits 12 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 13 AS 43.55.019, AS 43.56.018, AS 43.75.018, or AS 43.77.045, result in the total 14 amount of the credits exceeding $5,000,000; if the taxpayer is a member of an 15 affiliated group, then the total amount of credits may not exceed $5,000,000 for 16 the affiliated group; in this paragraph, "affiliated group" has the meaning given 17 in AS 43.20.073 [EXCEED $150,000]. 18 * Sec. 39. AS 43.65.018(d), as amended by sec. 38 of this Act, is amended to read: 19 (d) A contribution claimed as a credit under this section may not 20 (1) be the basis for a credit claimed under another provision of this 21 title; and 22 (2) when combined with contributions that are the basis for credits 23 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 24 AS 43.55.019, AS 43.56.018, AS 43.75.018, or AS 43.77.045, result in the total 25 amount of the credits exceeding $150,000 [$5,000,000; IF THE TAXPAYER IS A 26 MEMBER OF AN AFFILIATED GROUP, THEN THE TOTAL AMOUNT OF 27 CREDITS MAY NOT EXCEED $5,000,000 FOR THE AFFILIATED GROUP; IN 28 THIS PARAGRAPH, "AFFILIATED GROUP" HAS THE MEANING GIVEN IN 29 AS 43.20.073]. 30 * Sec. 40. AS 43.65.018 is amended by adding a new subsection to read: 31 (f) The credit under this section may not reduce a person's tax liability under
01 this chapter to below zero for any tax year. An unused credit or portion of a credit not 02 used under this section for a tax year may not be sold, traded, transferred, or applied in 03 a subsequent tax year. 04 * Sec. 41. AS 43.75.018(a) is amended to read: 05 (a) A person engaged in a fisheries business is allowed a credit against the tax 06 due under this chapter for cash contributions accepted 07 (1) for direct instruction, research, and educational support purposes, 08 including library and museum acquisitions, and contributions to endowment, by an 09 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 10 four-year college accredited by a regional accreditation association; 11 (2) for secondary school level vocational education courses, [AND] 12 programs, and facilities by a school district in the state; [AND] 13 (3) for vocational education courses, programs, and facilities by a 14 state-operated vocational technical education and training school; and 15 (4) for a facility by a nonprofit, public or private, Alaska two-year 16 or four-year college accredited by a regional accreditation association. 17 * Sec. 42. AS 43.75.018(a), as amended by sec. 41 of this Act, is amended to read: 18 (a) A person engaged in a fisheries business is allowed a credit against the tax 19 due under this chapter for cash contributions accepted 20 (1) for direct instruction, research, and educational support purposes, 21 including library and museum acquisitions, and contributions to endowment, by an 22 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 23 four-year college accredited by a regional accreditation association; 24 (2) for secondary school level vocational education courses and [,] 25 programs [, AND FACILITIES] by a school district in the state; and 26 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 27 AND FACILITIES] by a state-operated vocational technical education and training 28 school [; AND 29 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 30 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 31 REGIONAL ACCREDITATION ASSOCIATION].
01 * Sec. 43. AS 43.75.018(b) is amended to read: 02 (b) The amount of the credit is 03 (1) 50 percent of contributions of not more than $100,000; [AND] 04 (2) 100 percent of the next $200,000 [$100,000] of contributions; and 05 (3) 50 percent of the amount of contributions that exceed $300,000. 06 * Sec. 44. AS 43.75.018(b), as amended by sec. 43 of this Act, is amended to read: 07 (b) The amount of the credit is 08 (1) 50 percent of contributions of not more than $100,000; and 09 (2) 100 percent of the next $100,000 [$200,000] of contributions [; 10 AND 11 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 12 EXCEED $300,000]. 13 * Sec. 45. AS 43.75.018(d) is amended to read: 14 (d) A contribution claimed as a credit under this section may not 15 (1) be the basis for a credit claimed [AS A CREDIT] under another 16 provision of this title; and 17 (2) when combined with contributions that are the basis for credits 18 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 19 AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.77.045, result in the total 20 amount of the credits exceeding $5,000,000; if the taxpayer is a member of an 21 affiliated group, then the total amount of credits may not exceed $5,000,000 for 22 the affiliated group; in this paragraph, "affiliated group" has the meaning given 23 in AS 43.20.073 [EXCEED $150,000]. 24 * Sec. 46. AS 43.75.018(d), as amended by sec. 45 of this Act, is amended to read: 25 (d) A contribution claimed as a credit under this section may not 26 (1) be the basis for a credit claimed under another provision of this 27 title; and 28 (2) when combined with contributions that are the basis for credits 29 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 30 AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.77.045, result in the total 31 amount of the credits exceeding $150,000 [$5,000,000; IF THE TAXPAYER IS A
01 MEMBER OF AN AFFILIATED GROUP, THEN THE TOTAL AMOUNT OF 02 CREDITS MAY NOT EXCEED $5,000,000 FOR THE AFFILIATED GROUP; IN 03 THIS PARAGRAPH, "AFFILIATED GROUP" HAS THE MEANING GIVEN IN 04 AS 43.20.073]. 05 * Sec. 47. AS 43.75.018 is amended by adding a new subsection to read: 06 (f) The credit under this section may not reduce a person's tax liability under 07 this chapter to below zero for any tax year. An unused credit or portion of a credit not 08 used under this section for a tax year may not be sold, traded, transferred, or applied in 09 a subsequent tax year. 10 * Sec. 48. AS 43.77.045(a) is amended to read: 11 (a) In addition to the credit allowed under AS 43.77.040, a person engaged in 12 a floating fisheries business is allowed a credit against the tax due under this chapter 13 for cash contributions accepted 14 (1) for direct instruction, research, and educational support purposes, 15 including library and museum acquisitions, and contributions to endowment, by an 16 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 17 four-year college accredited by a regional accreditation association; 18 (2) for secondary school level vocational education courses, [AND] 19 programs, and facilities by a school district in the state; [AND] 20 (3) for vocational education courses, programs, and facilities by a 21 state-operated vocational technical education and training school; and 22 (4) for a facility by a nonprofit, public or private, Alaska two-year 23 or four-year college accredited by a regional accreditation association. 24 * Sec. 49. AS 43.77.045(a), as amended by sec. 48 of this Act, is amended to read: 25 (a) In addition to the credit allowed under AS 43.77.040, a person engaged in 26 a floating fisheries business is allowed a credit against the tax due under this chapter 27 for cash contributions accepted 28 (1) for direct instruction, research, and educational support purposes, 29 including library and museum acquisitions, and contributions to endowment, by an 30 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 31 four-year college accredited by a regional accreditation association;
01 (2) for secondary school level vocational education courses and [,] 02 programs [, AND FACILITIES] by a school district in the state; and 03 (3) [FOR VOCATIONAL EDUCATION COURSES, PROGRAMS, 04 AND FACILITIES] by a state-operated vocational technical education and training 05 school [; AND 06 (4) FOR A FACILITY BY A NONPROFIT, PUBLIC OR PRIVATE, 07 ALASKA TWO-YEAR OR FOUR-YEAR COLLEGE ACCREDITED BY A 08 REGIONAL ACCREDITATION ASSOCIATION]. 09 * Sec. 50. AS 43.77.045(b) is amended to read: 10 (b) The amount of the credit is 11 (1) 50 percent of contributions of not more than $100,000; [AND] 12 (2) 100 percent of the next $200,000 [$100,000] of contributions; and 13 (3) 50 percent of the amount of contributions that exceed $300,000. 14 * Sec. 51. AS 43.77.045(b), as amended by sec. 50 of this Act, is amended to read: 15 (b) The amount of the credit is 16 (1) 50 percent of contributions of not more than $100,000; and 17 (2) 100 percent of the next $100,000 [$200,000] of contributions [; 18 AND 19 (3) 50 PERCENT OF THE AMOUNT OF CONTRIBUTIONS THAT 20 EXCEED $300,000]. 21 * Sec. 52. AS 43.77.045(d) is amended to read: 22 (d) A contribution claimed as a credit under this section may not 23 (1) be the basis for a credit claimed [AS A CREDIT] under another 24 provision of this title; and 25 (2) when combined with contributions that are the basis for credits 26 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 27 AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.75.018, result in the total 28 amount of the credits exceeding $5,000,000; if the taxpayer is a member of an 29 affiliated group, then the total amount of credits may not exceed $5,000,000 for 30 the affiliated group; in this paragraph, "affiliated group" has the meaning given 31 in AS 43.20.073 [EXCEED $150,000].
01 * Sec. 53. AS 43.77.045(d), as amended by sec. 52 of this Act, is amended to read: 02 (d) A contribution claimed as a credit under this section may not 03 (1) be the basis for a credit claimed under another provision of this 04 title; and 05 (2) when combined with contributions that are the basis for credits 06 taken during the taxpayer's tax year under AS 21.89.070, 21.89.075, AS 43.20.014, 07 AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.75.018, result in the total 08 amount of the credits exceeding $150,000 [$5,000,000; IF THE TAXPAYER IS A 09 MEMBER OF AN AFFILIATED GROUP, THEN THE TOTAL AMOUNT OF 10 CREDITS MAY NOT EXCEED $5,000,000 FOR THE AFFILIATED GROUP; IN 11 THIS PARAGRAPH, "AFFILIATED GROUP" HAS THE MEANING GIVEN IN 12 AS 43.20.073]. 13 * Sec. 54. AS 43.77.045 is amended by adding a new subsection to read: 14 (f) The credit under this section may not reduce a person's tax liability under 15 this chapter to below zero for any tax year. An unused credit or portion of a credit not 16 used under this section for a tax year may not be sold, traded, transferred, or applied in 17 a subsequent tax year. 18 * Sec. 55. AS 21.06.110(9); AS 21.89.070(f), 21.89.075(f); AS 43.05.010(15); 19 AS 43.20.014(f); AS 43.55.019(f); AS 43.56.018(f); AS 43.65.018(f); AS 43.75.018(f); and 20 AS 43.77.045(f) are repealed. 21 * Sec. 56. Sections 1, 2, 4, 6, 8, 9, 11 - 13, 15, 17, 19, 20, 22, 24, 26, 27, 29, 31, 33, 34, 36, 22 38, 40, 41, 43, 45, 47, 48, 50, 52, and 54 of this Act take effect January 1, 2011. 23 * Sec. 57. Except as provided in sec. 56 of this Act, this Act takes effect January 1, 2014.