26th Legislature(2009-2010)

Bill Text 26th Legislature

00                      CS FOR SENATE BILL NO. 138(L&C)                                                                    
01 "An Act relating to a corporation income tax credit for contributions by a person                                       
02 owning or operating a commercial passenger vessel to a qualified trade association that                                 
03 was awarded a contract by the Department of Commerce, Community, and Economic                                           
04 Development, and used for planning and executing a destination tourism marketing                                        
05 campaign."                                                                                                              
06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
07    * Section 1. AS 43.20 is amended by adding a new section to article 1 to read:                                     
08            Sec. 43.20.047. Tourism marketing tax credit. (a) A person owning or                                       
09       operating a commercial passenger vessel in the state is entitled to a credit against the                          
10       tax due under this chapter for a cash contribution                                                                
11                 (1)  accepted by the qualified trade association that was awarded a                                     
12       contract under AS 44.33.125(a);                                                                                   
13                 (2)  used for the destination tourism marketing campaign that was                                       
01       planned and executed under the contract issued under AS 44.33.125(a); and                                         
02                 (3)  not used to provide the person making the contribution with a                                      
03       direct or tangible benefit.                                                                                       
04            (b)  The credit in (a) of this section may not be less than zero and may not                                 
05       exceed the difference between the tax liability for the person owning or operating a                              
06       commercial passenger vessel in the state determined under AS 43.20.011(e) in                                      
07       conjunction with AS 43.20.021(h) and (i) and the tax liability for the person owning or                           
08       operating a commercial passenger vessel in the state determined under                                             
09       AS 43.20.011(e) in conjunction with AS 43.20.021 as that section read on                                          
10       December 16, 2006.                                                                                                
11            (c)  A credit or portion of a credit under this section may not be used to reduce                            
12       a person's total tax liability under this chapter for a calendar year below zero, and any                         
13       unused credit or portion of a credit not used under this section may not be applied in a                          
14       subsequent calendar year.                                                                                         
15            (d)  In this section, "commercial passenger vessel" has the meaning given in                                 
16       AS 43.52.295.                                                                                                     
17    * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to                          
18 read:                                                                                                                   
19       APPLICABILITY. AS 43.20.047, added by sec. 1 of this Act, applies to cash                                         
20 contributions accepted and used after June 30, 2009, for the purposes described in                                      
21 AS 43.20.047(a), added by sec. 1 of this Act.