05/18/2021 09:00 AM Senate FINANCE

HOUSE BILL NO. 182                                                                                                            
                                                                                                                                
     "An  Act extending  the  fishery  resource landing  tax                                                                    
     credit  for  certain  taxpayers  that  harvest  fishery                                                                    
     resources   under  the   provisions   of  a   community                                                                    
     development quota;  providing for an effective  date by                                                                    
     amending the  effective date  of secs.  16 and  23, ch.                                                                    
    61, SLA 2014; and providing for an effective date."                                                                         
                                                                                                                                
9:52:33 AM                                                                                                                    
                                                                                                                                
Co-Chair Bishop discussed housekeeping.                                                                                         
                                                                                                                                
Co-Chair Bishop discussed a fiscal note from the Department                                                                     
of Revenue, OMB Component 2476. He read from the analysis                                                                       
on page 2 of the fiscal note:                                                                                                   
                                                                                                                                
     Prior to December 31,  2020, Fisheries Resource Landing                                                                    
     Tax   (FRLT)   taxpayers   that   harvested   fisheries                                                                    
     resources  under a  community  development quota  (CDQ)                                                                    
     and  that made  contributions  during the  tax year  to                                                                    
     Alaska  nonprofit corporations  that  are dedicated  to                                                                    
     fisheries industry-related  education, research, and/or                                                                    
     work were allowed  to claim a credit of  100 percent of                                                                    
     the  contribution amount,  up to  45.45 percent  of the                                                                    
     taxpayer's   tax   liability   on   fishery   resources                                                                    
     harvested under  a CDQ. However, the  CDQ Credit sunset                                                                    
     on  December 31,  2020. This  bill  extends the  sunset                                                                    
     date  of  the CDQ  credit  to  December 31,  2030,  and                                                                    
     provides for  an immediate effective date.  The bill is                                                                    
     retroactive to December 30, 2020.                                                                                          
                                                                                                                                
Senator Hoffman MOVED to report HB 182 out of Committee                                                                         
with individual recommendations and the accompanying fiscal                                                                     
note. There being NO OBJECTION, it was so ordered.                                                                              
                                                                                                                                
HB 182 was REPORTED out of committee with a "do pass"                                                                           
recommendation and with one previously published fiscal                                                                         
impact note: FN 1(REV).