AK SB198

Establishes a 12.5 percent royalty on the value of fish caught commercially in state waters by holders of limited entry or interim-use permits under AS 16.43

Requires buyers to collect the royalty at the time of purchase and remit monthly collections to the department by the last day of the following month

Imposes record-keeping and annual reporting requirements on buyers to document the value of fish purchased subject to the royalty

Makes direct marketing fisheries businesses and commercial fishermen liable for royalty payment if fish are transferred to non-licensed buyers without royalty collection, with annual remittance required by April 1

Takes effect March 31, 2017