CS FOR HOUSE BILL NO. 233(FIN) am "An Act relating to the insurance tax education credit, the income tax education credit, the oil or gas producer education credit, the property tax education credit, the mining business education credit, the fisheries business education credit, and the fisheries resource landing tax education credit; providing for an effective date by repealing the effective dates of secs. 3, 5, 7, 10, 14, 16, 18, 21, 23, 25, 28, 30, 32, 35, 37, 39, 42, 44, 46, 49, 51, 53, and 55, ch. 92, SLA 2010, sec. 14, ch. 7, FSSLA 2011, secs. 15, 17, 19, 21, 23, and 25, ch. 74, SLA 2012, sec. 49, ch. 14, SLA 2014, secs. 37, 40, 43, and 46, ch. 15, SLA 2014, and secs. 26 and 31, ch. 61, SLA 2014; providing for an effective date by amending the effective date of secs. 1, 2, and 21, ch. 61, SLA 2014; and providing for an effective date." 3:06:49 PM Co-Chair MacKinnon asked Vice-Chair Bishop to review the fiscal note. Vice-Chair Bishop complied. He reported that some discussion had ensued about the $50,000 fiscal note for a regulation package. The fiscal note before the committee reflected that the $50,000 regulation package was not included in the bill. The numbers in the outyears of the fiscal note remained the same. He reiterated there was no fee for a regulation package associated with the bill. Co-Chair MacKinnon announced that the bill had originally been heard as the companion bill SB 116 on March 26, 2018. The current bill had been heard on April 26, 2018 where a new committee substitute (CS) had been presented, the sectional analysis had been reviewed, and public testimony had been heard and closed. The fiscal notes had been reviewed again. She asked to hear from the bill sponsor. REPRESENTATIVE CHRIS TUCK, SPONSOR, detailed that the bill would extend the education tax credits that had originated in 1987 to January 1, 2025. He relayed the credits would expire on December 31, 2018 without the legislation. Vice-Chair Bishop MOVED to REPORT SCS CSHB 233(FIN) out of committee with individual recommendations and accompanying fiscal note. There being NO OBJECTION, it was so ordered. SCS CSHB 233(FIN) was REPORTED out of committee with a "do pass" recommendation and with one new fiscal impact note from the Department of Revenue. 3:08:52 PM AT EASE 3:11:00 PM RECONVENED Co-Chair MacKinnon relayed that the committee had reported out SCS CSHB 233(FIN). KEN ALPER, DIRECTOR, TAX DIVISION, DEPARTMENT OF REVENUE, heard the committee had moved the bill before he had arrived. Co-Chair MacKinnon offered Mr. Alper an opportunity to share anything related to the fiscal note for SCS CSHB 233(FIN). Mr. Alper discussed that the fiscal note discussed during the morning meeting had contemplated revenue to cover some of the Department of Revenue's (DOR) administrative costs. The department had removed the associated costs from the fiscal note; the costs would be absorbed by the department. He supported the bill and believed the education tax credit was an important program. He added it was merely a matter of downsizing the program to Alaska's fiscal reality. Co-Chair MacKinnon apologized that the meeting time had moved. She understood DOR was following the committee's activities and was working hard to be available. Mr. Alper replied the department would be presenting to the committee the following morning on a different piece of legislation.