SB 267-ALASKA VETERANS' MEM.ENDOWMENT FUND    LADDY SHAW, state director for the Department of Military and Veterans Affairs, described the bill as a grant program for maintenance, repair, replacement, enhancement of and addition to any veteran's memorials or monuments to veterans and the military in the state. The bill proposes to finance the fund through appropriations as well as contributions that will be eligible for certain state corporate tax credits. Presently they have $125,000.00 in the bank and are working to collect another $20,000.00 that is already pledged. They have offered that $20,000.00 to the Vietnam Veteran's Moving Wall for coming to Alaska and as a part of a nationwide non-profit program to provide information about Vietnam veterans. He said he represents 68,000 veterans and about 30,000 military members in the state. They are asking the committee to pass SB 267 thus giving these people the honor and recognition they deserve. SENATOR PHILLIPS commented it meant a lot to him personally to see the Moving Vietnam Wall at the Parks Strip in August. MR. SHAW agreed that having the wall in the state was very meaningful. He said that although they have had a tremendous amount of volunteer help, a number of memorials are in disrepair and there is no money for their repair or for new memorials such as one to honor the Alaska Territorial Guard. Some private individuals feel strongly enough that they are going out on their own to ask for donations. When they came up with the present idea as an initiative they were overwhelmed with the support they received. Any support the committee is able to give would be appreciated. SENATOR PHILLIPS asked whether the monument for the Lend-Lease Act would qualify. MR. SHAW said construction or repair of any monument that deals with any area of military and veterans' affairs would be covered. SENATOR PHILLIPS commented he hopes it would fit because there were a lot of men and women involved in that effort. CHAIRMAN THERRIAULT said this just adds another option to the existing tax exemption but he wasn't clear which tax types this credit applies against. MR. SHAW asked that the representative from the Department of Revenue answer those questions. MR. NEIL SLOTNICK, deputy commissioner of Department of Revenue, informed members the tax credit applies against a number of types. It is the insurance premiums tax AS 21.89, the corporate income tax AS 43.20, oil and gas severance tax AS 43.55, oil and gas property tax AS 43.56, mining and license tax AS 43.65, fisheries business tax AS 43.75 and the fish landing tax AS 43.77. CHAIRMAN THERRIAULT explained that you get 50 percent of your first $100,000.00 and 100 percent of your second $100,000.00 for a total of $150,000.00. You may only get this once in any tax year from any of the sources. Basically, this allows people to direct their tax dollars to a specific purpose. This is allowed in education as well and now the corporations will be able to choose between the two options. There were no further questions on the technical mechanisms of the bill. PAT CAROTHERS, Chairman of the Alaska Veterans Advisory Council, said he was present to solicit support to move the bill forward. There was no further testimony. CHAIRMAN THERRIAULT noted there was no prepared CS and he had no amendments. SENATOR PHILLIPS made a motion to move SB 267 and fiscal notes from committee with individual recommendations. There being no objection, SB 267 move from committee.