04/02/2010 01:30 PM House FINANCE

HOUSE BILL NO. 344                                                                                                            
                                                                                                                                
     "An Act relating to the  salmon product development tax                                                                    
     credit;  and   providing  for  an  effective   date  by                                                                    
     amending  an effective  date  in sec.  7,  ch. 57,  SLA                                                                    
     2003, as  amended by sec.  4, ch.  3, SLA 2006,  and by                                                                    
     sec. 4, ch. 8, SLA 2008."                                                                                                  
                                                                                                                                
Co-Chair Stoltze  WITHDREW his OBJECTION to  adopting the CS                                                                    
for HB 344. There being NO OBJECTION, it was so ordered.                                                                        
                                                                                                                                
Vice-Chair Thomas  clarified that  an ice making  machine is                                                                    
the internal  parts of an  ice house.  The ice house  is not                                                                    
part of the tax credit.                                                                                                         
                                                                                                                                
Representative   Doogan   inquired  about   Alaska   Glacier                                                                    
Seafood's  plan to  increase its  ice handling  capacity and                                                                    
widen the  dock forty-five feet  in order  to add a  new ice                                                                    
facility. He assumed that the  costs of that expansion would                                                                    
not qualify for the tax credit.                                                                                                 
                                                                                                                                
Vice-Chair Thomas said that was true.                                                                                           
                                                                                                                                
Co-Chair  Stoltze  noted  the  fiscal  note,  which  remains                                                                    
unchanged. It will  reflect a change as a result  of the new                                                                    
CS.                                                                                                                             
                                                                                                                                
Representative Fairclough  asked if maintenance  and repairs                                                                    
of the  items would qualify  for the tax  credit. Vice-Chair                                                                    
Thomas thought that maintenance  would not qualify, only the                                                                    
actual capital construction of the ice-making portion.                                                                          
                                                                                                                                
Co-Chair  Stoltze MOVED  to  report CSHB  344  (FIN) out  of                                                                    
Committee   with   individual    recommendations   and   the                                                                    
accompanying fiscal  note. There being NO  OBJECTION, it was                                                                    
so ordered.                                                                                                                     
                                                                                                                                
CSHB  344(FIN) was  REPORTED  out of  Committee  with a  "do                                                                    
pass"  recommendation  and  a   new  fiscal  note  from  the                                                                    
Department of Revenue.                                                                                                          
                                                                                                                                
2:37:17 PM