AK HB4005

Removes exploration incentive credit application to mineral production royalty payments, limiting credit to mining license taxes under AS 43.65 and AS 43.20 only.

Increases mining license tax rate from 7 percent to 9 percent on net income over $100,000.

Changes mining license renewal application deadline from May 1 to January 1 of each year.

Maintains $20,000,000 maximum exploration incentive credit per mining operation, applicable within 15 tax years of approval.

Takes effect July 1, 2016, with transition provisions allowing Department of Revenue and Department of Natural Resources to adopt implementing regulations.