Legislature(1997 - 1998)
1997-04-30 Senate Journal
Full Journal pdf1997-04-30 Senate Journal Page 1580 HB 115 CS FOR HOUSE BILL NO. 115(JUD) am An Act making corrective amendments to the Alaska Statutes as recommended by the revisor of statutes; and providing for an effective date was read the second time. Senator Leman offered Amendment No. 1 : Insert new bill sections to read: * Sec. A. AS 21.89.070(a) is amended to read: (a) A taxpayer is allowed a credit against the tax due under AS 21.09.210 or AS 21.66.110 for cash contributions for direct instruction, research, and educational support purposes, including library and museum acquisitions, and contributions to endowment, that are accepted by a nonprofit, public or private, Alaska two-year or four-year college or university accredited by a national or regional accreditation association or that are accepted by an Alaska university foundation that supports a university or college that could receive a contribution for which a taxpayer may obtain a credit under this section. The amount of the credit is the lesser of (1) an amount equal to (A) 50 percent of contributions of not more than $100,000; and (B) 100 percent of the next $100,000 of contributions; or (2) 50 percent of the taxpayer's tax liability under this title. * Sec. B. AS 43.20.014(a) is amended to read: (a) For cash contributions accepted for direct instruction, research, and educational support purposes, including library and museum acquisitions, and contributions to endowment, by an Alaska university foundation or by a nonprofit, public or private, Alaska two-year or four-year college accredited by a national or regional accreditation association, a taxpayer is allowed as a credit against the tax due under this chapter 1997-04-30 Senate Journal Page 1581 HB 115 (1) 50 percent of contributions of not more than $100,000; and (2) 100 percent of the next $100,000 of contributions. * Sec. C. AS 43.55.019(a) is amended to read: (a) For cash contributions accepted for direct instruction, research, and educational support purposes, including library and museum acquisitions, and contributions to endowment, by an Alaska university foundation or by a nonprofit, public or private, Alaska two-year or four-year college accredited by a national or regional accreditation association, a producer of oil or gas is allowed as a credit against the tax due under this chapter (1) 50 percent of contributions of not more than $100,000; and (2) 100 percent of the next $100,000 of contributions. * Sec. D. AS 43.56.018(a) is amended to read: (a) For cash contributions accepted for direct instruction, research, and educational support purposes, including library and museum acquisitions, and contributions to endowment, by an Alaska university foundation or by a nonprofit, public or private, Alaska two-year or four-year college accredited by a national or regional accreditation association, the owner of property taxable under this chapter is allowed as a credit against the tax due under this chapter (1) 50 percent of contributions of not more than $100,000; and (2) 100 percent of the next $100,000 of contributions. * Sec. E. AS 43.65.018(a) is amended to read: (a) For cash contributions accepted for direct instruction, research, and educational support purposes, including library and museum acquisitions, and contributions to endowment, by an Alaska university foundation or by a nonprofit public or private, Alaska two- year or four-year college accredited by a national or regional accreditation association, a person engaged in the business of mining in the state is allowed as a credit against the tax due under this chapter (1) 50 percent of contributions of not more than $100,000; and 1997-04-30 Senate Journal Page 1582 HB 115 (2) 100 percent of the next $100,000 of contributions. * Sec. F. AS 43.75.018(a) is amended to read: (a) For cash contributions accepted for direct instruction, research, and educational support purposes, including library and museum acquisitions and contributions to endowment, by an Alaska university foundation or by a nonprofit, public or private, Alaska two-year or four-year college accredited by a national or regional accreditation association, a person engaged in a fisheries business is allowed as a credit against the tax due under this chapter (1) 50 percent of contributions of not more than $100,000; and (2) 100 percent of the next $100,000 of contributions. * Sec. G. AS 43.77.045(a) is amended to read: (a) In addition to the credit allowed under AS 43.77.040, for cash contributions accepted for direct instruction, research, and educational support purposes, including library and museum acquisitions and contributions to endowment, by an Alaska university foundation or by a nonprofit, public or private, Alaska two- year or four-year college accredited by a national or regional accreditation association, a person engaged in a floating fisheries business is allowed as a credit against the tax due under this chapter (1) 50 percent of contributions of not more than $100,000; and (2) 100 percent of the next $100,000 of contributions." Renumber as appropriate. Senator Leman moved for the adoption of Amendment No. 1. Objections were heard. Senator Taylor moved and asked unanimous consent that CS FOR HOUSE BILL NO. 115(JUD) am be held in second reading, with Amendment No. 1 pending, to the May 1 calendar. Without objection, it was so ordered.