AK HB422

Establishes a corporation income tax credit for cash contributions made after December 31, 2009, to qualified trade associations contracted by the Department of Commerce for destination tourism marketing campaigns by tourism-related businesses.

Sets the maximum eligible contributions at $20,000,000 for calendar year 2010, with subsequent years determined by the department based on percentage changes in vehicle rental tax collections, to be published by December 1 annually.

Reduces the excise tax on commercial passenger vessel overnight accommodations from $46 to $34.50 per passenger per voyage effective immediately.

Allows municipalities to offset the state excise tax by the amount of any local passenger tax imposed, up to a maximum of 50 percent of the state tax rate, for municipalities that did not elect to receive state funds by December 17, 2007.

Requires the Department of Commerce, Community, and Economic Development to submit a triennial report addressing community needs for hosting cruise ship passengers and the extent appropriations have addressed those needs.