Legislature(2017 - 2018)
2018-04-13 House Journal
Full Journal pdf2018-04-13 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.