00 Enrolled HB 398 01 Relating to the allocation and apportionment of income of a public utility for purposes of the 02 Alaska Net Income Tax Act; and providing for an effective date. 03 _______________ 04 * Section 1. AS 43.20 is amended by adding a new section to article 2 to read: 05 Sec. 43.20.146. Public utilities. Notwithstanding sec. 2, art. IV, of AS 43.19 06 (Multistate Tax Compact), and unless otherwise provided under AS 43.20.143 - 07 43.20.145, a taxpayer that is a public utility shall allocate and apportion income in 08 accordance with the remainder of art. IV of AS 43.19 (Multistate Tax Compact). 09 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to 10 read: 11 APPLICABILITY. AS 43.20.146, added by sec. 1 of this Act, does not apply to a 12 taxpayer that files a return under AS 43.20 for a taxable year commencing before the effective 13 date of sec. 1 of this Act. 14 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 01 read: 02 TRANSITION: REGULATIONS. The Department of Revenue shall adopt regulations 03 necessary to implement the changes made by this Act. The regulations take effect under 04 AS 44.62 (Administrative Procedure Act), but not before January 1, 2019. 05 * Sec. 4. Section 3 of this Act takes effect immediately under AS 01.10.070(c). 06 * Sec. 5. Except as provided in sec. 4 of this Act, this Act takes effect January 1, 2019.