AK SB275

Amends the Department of Fish and Game Commissioner's powers to include explicit authority to "permit and regulate aquatic farming in the state in a manner that promotes the economic health and sustainability of the aquatic farming industry, ensures the protection of the state's fish and game resources, and improves the economy, health, and well-being of the citizens of the state"

Requires aquatic farm permittees who remove excess wild shellfish stock to pay compensation to the department of 10 percent of ex-vessel value for live products and 3 percent of ex-vessel value for processed products, replacing previous "reasonable compensation" standard

Requires compensation payments to be deposited into the general fund, with legislature authorized to appropriate funds to the department for shellfish management and enhancement

Maintains requirement that permittees also pay fisheries business tax under AS 43.75.015 in addition to the new compensation amounts

Takes effect immediately upon enactment