2018-04-13                     House Journal                      Page 3268
HB 399                                                                                                                        
The Finance Committee considered:                                                                                               
                                                                                                                                
    HOUSE BILL NO. 399                                                                                                          
    "An Act disallowing a federal tax credit as a credit against the                                                            
    corporate net income tax; repealing a provision allowing the                                                                
    exclusion of certain royalties accrued or received from foreign                                                             
    corporations for purposes of the corporate net income tax;                                                                  
    repealing the reduced rate for the alternative tax on capital gains                                                         
    for corporations; repealing an exemption from filing a return                                                               
    under the corporate net income tax for a corporation engaged in a                                                           
    contract under the Alaska Stranded Gas Development Act; and                                                                 
    providing for an effective date."                                                                                           
                                                                                                                                
and recommends it be replaced with:                                                                                             
                                                                                                                                
    CS FOR HOUSE BILL NO. 399(FIN)                                                                                              
    "An Act relating to the use of a federal tax credit as a credit                                                             
    against the corporate net income tax; repealing a provision                                                                 
    allowing the exclusion of certain royalties accrued or received                                                             
    from foreign corporations for purposes of the corporate net                                                                 
    income tax; repealing the reduced rate for the alternative tax on                                                           
    capital gains for corporations; repealing an exemption from filing                                                          

2018-04-13                     House Journal                      Page 3269
    a return under the corporate net income tax for a corporation                                                               
    engaged in a contract under the Alaska Stranded Gas                                                                         
    Development Act; and providing for an effective date."                                                                      
                                                                                                                                
The report was signed by Representatives Seaton and Foster, Co-                                                                 
chairs, with the following individual recommendations:                                                                          
                                                                                                                                
Do pass (10):  Tilton, Grenn, Guttenberg, Thompson, Ortiz, Gara,                                                                
Pruitt, Wilson, Seaton, Foster                                                                                                  
                                                                                                                                
Amend (1):  Kawasaki                                                                                                            
                                                                                                                                
The following fiscal note(s) apply to CSHB 399(FIN):                                                                            
                                                                                                                                
Fiscal note(s) forthcoming.                                                                                                     
                                                                                                                                
HB 399 was referred to the Rules Committee for placement on the                                                                 
calendar.