AK SB311

Establishes a corporation income tax credit for cash contributions made after December 31, 2009, to qualified trade associations contracted by the Department of Commerce, Community, and Economic Development for destination tourism marketing campaigns, available to businesses deriving income from visitor services including accommodations, tours, transportation, and vehicle rentals.

Caps eligible contributions at $20,000,000 for calendar year 2010, with subsequent year limits determined by the Department based on percentage changes in vehicle rental tax collections during the two previous fiscal years.

Reduces the cruise ship passenger excise tax rate from $46 to $34.50 per passenger per voyage for commercial passenger vessels providing overnight accommodations in state marine waters.

Allows municipalities with their own passenger taxes to reduce state excise tax liability by the amount of local tax imposed, but only if the municipality did not elect to receive state funds by December 17, 2007, and not to exceed 50 percent of the state tax rate.

Requires the Department of Commerce, Community, and Economic Development to submit a triennial report addressing community needs to host cruise ship passengers and summarizing how tax proceeds have been appropriated to meet those needs.