SB 1003: "An Act relating to tax credits for contributions to public schools and programs operated by tribal entities or tribally empowered Alaska Native organizations through a compact with the state; relating to tax credits for contributions to state-funded literacy programs; relating to the insurance tax education credit, the income tax education credit, the oil or gas producer education credit, the property tax education credit, the mining business education credit, the fisheries business education credit, and the fisheries resource landing tax education credit; and providing for an effective date."
00 SENATE BILL NO. 1003 01 "An Act relating to tax credits for contributions to public schools and programs 02 operated by tribal entities or tribally empowered Alaska Native organizations through a 03 compact with the state; relating to tax credits for contributions to state-funded literacy 04 programs; relating to the insurance tax education credit, the income tax education 05 credit, the oil or gas producer education credit, the property tax education credit, the 06 mining business education credit, the fisheries business education credit, and the 07 fisheries resource landing tax education credit; and providing for an effective date." 08 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 09 * Section 1. AS 21.96.070(a) is amended by adding new paragraphs to read: 10 (14) contributions of cash or equipment accepted by a public school or 11 program that is operated by a tribal entity or a tribally empowered Alaska Native 12 organization through a compact with the state; 13 (15) contributions of cash or equipment to a state-funded literacy
01 program administered by the Department of Education and Early Development. 02 * Sec. 2. AS 21.96.070(d) is amended to read: 03 (d) A contribution claimed as a credit under this section may not 04 (1) be the basis for a credit claimed under another provision of this 05 title; and 06 (2) when combined with contributions that are the basis for credits 07 taken during the taxpayer's tax year under AS 43.20.014, AS 43.55.019, 08 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 09 amount of credits exceeding $10,000,000 [$3,000,000]; if the taxpayer is a member of 10 an affiliated group, then the total amount of credits may not exceed $10,000,000 11 [$3,000,000] for the affiliated group; in this paragraph, "affiliated group" has the 12 meaning given in AS 43.20.145. 13 * Sec. 3. AS 43.20.014(a) is amended by adding new paragraphs to read: 14 (20) contributions of cash or equipment accepted by a public school or 15 program that is operated by a tribal entity or a tribally empowered Alaska Native 16 organization through a compact with the state; 17 (21) contributions of cash or equipment to a state-funded literacy 18 program administered by the Department of Education and Early Development. 19 * Sec. 4. AS 43.20.014(d) is amended to read: 20 (d) A contribution claimed as a credit under this section may not 21 (1) be the basis for a credit claimed under another provision of this 22 title; 23 (2) also be allowed as a deduction under 26 U.S.C. (Internal Revenue 24 Code) against the tax imposed by this chapter; and 25 (3) when combined with contributions that are the basis for credits 26 taken during the taxpayer's tax year under AS 21.96.070, AS 43.55.019, 27 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 28 amount of credits exceeding $10,000,000 [$3,000,000]; if the taxpayer is a member of 29 an affiliated group, then the total amount of credits may not exceed $10,000,000 30 [$3,000,000] for the affiliated group; in this paragraph, "affiliated group" has the 31 meaning given in AS 43.20.145.
01 * Sec. 5. AS 43.55.019(a) is amended by adding new paragraphs to read: 02 (15) contributions of cash or equipment accepted by a public school or 03 program that is operated by a tribal entity or a tribally empowered Alaska Native 04 organization through a compact with the state; 05 (16) contributions of cash or equipment to a state-funded literacy 06 program administered by the Department of Education and Early Development. 07 * Sec. 6. AS 43.55.019(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 under another provision of this 10 title; and 11 (2) when combined with contributions that are the basis for credits 12 taken during the taxpayer's tax year under AS 21.96.070, AS 43.20.014, 13 AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 14 amount of credits exceeding $10,000,000 [$3,000,000]; if the taxpayer is a member of 15 an affiliated group, then the total amount of credits may not exceed $10,000,000 16 [$3,000,000] for the affiliated group; in this paragraph, "affiliated group" has the 17 meaning given in AS 43.20.145. 18 * Sec. 7. AS 43.56.018(a) is amended by adding new paragraphs to read: 19 (15) contributions of cash or equipment accepted by a public school or 20 program that is operated by a tribal entity or a tribally empowered Alaska Native 21 organization through a compact with the state; 22 (16) contributions of cash or equipment to a state-funded literacy 23 program administered by the Department of Education and Early Development. 24 * Sec. 8. AS 43.56.018(d) 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 21.96.070, AS 43.20.014, 30 AS 43.55.019, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 31 amount of credits exceeding $10,000,000 [$3,000,000]; if the taxpayer is a member of
01 an affiliated group, then the total amount of credits may not exceed $10,000,000 02 [$3,000,000] for the affiliated group; in this paragraph, "affiliated group" has the 03 meaning given in AS 43.20.145. 04 * Sec. 9. AS 43.65.018(a) is amended by adding new paragraphs to read: 05 (20) contributions of cash or equipment accepted by a public school or 06 program that is operated by a tribal entity or a tribally empowered Alaska Native 07 organization through a compact with the state; 08 (21) contributions of cash or equipment to a state-funded literacy 09 program administered by the Department of Education and Early Development. 10 * Sec. 10. AS 43.65.018(d) is amended to read: 11 (d) A contribution claimed as a credit under this section may not 12 (1) be the basis for a credit claimed under another provision of this 13 title; and 14 (2) when combined with contributions that are the basis for credits 15 taken during the taxpayer's tax year under AS 21.96.070, AS 43.20.014, 16 AS 43.55.019, AS 43.56.018, AS 43.75.018, or AS 43.77.045, result in the total 17 amount of the credits exceeding $10,000,000 [$3,000,000]; if the taxpayer is a 18 member of an affiliated group, then the total amount of credits may not exceed 19 $10,000,000 [$3,000,000] for the affiliated group; in this paragraph, "affiliated group" 20 has the meaning given in AS 43.20.145. 21 * Sec. 11. AS 43.75.018(a) is amended by adding new paragraphs to read: 22 (20) contributions of cash or equipment accepted by a public school or 23 program that is operated by a tribal entity or a tribally empowered Alaska Native 24 organization through a compact with the state; 25 (21) contributions of cash or equipment to a state-funded literacy 26 program administered by the Department of Education and Early Development. 27 * Sec. 12. AS 43.75.018(d) is amended to read: 28 (d) A contribution claimed as a credit under this section may not 29 (1) be the basis for a credit claimed under another provision of this 30 title; and 31 (2) when combined with contributions that are the basis for credits
01 taken during the taxpayer's tax year under AS 21.96.070, AS 43.20.014, 02 AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.77.045, result in the total 03 amount of the credits exceeding $10,000,000 [$3,000,000]; if the taxpayer is a 04 member of an affiliated group, then the total amount of credits may not exceed 05 $10,000,000 [$3,000,000] for the affiliated group; in this paragraph, "affiliated group" 06 has the meaning given in AS 43.20.145. 07 * Sec. 13. AS 43.77.045(a) is amended by adding new paragraphs to read: 08 (20) contributions of cash or equipment accepted by a public school or 09 program that is operated by a tribal entity or a tribally empowered Alaska Native 10 organization through a compact with the state; 11 (21) contributions of cash or equipment to a state-funded literacy 12 program administered by the Department of Education and Early Development. 13 * Sec. 14. AS 43.77.045(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 under another provision of this 16 title; and 17 (2) when combined with contributions that are the basis for credits 18 taken during the taxpayer's tax year under AS 21.96.070, AS 43.20.014, 19 AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.75.018, result in the total 20 amount of the credits exceeding $10,000,000 [$3,000,000]; if the taxpayer is a 21 member of an affiliated group, then the total amount of credits may not exceed 22 $10,000,000 [$3,000,000] for the affiliated group; in this paragraph, "affiliated group" 23 has the meaning given in AS 43.20.145. 24 * Sec. 15. This Act takes effect January 1, 2026.