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AK SB130

Bill

Official Source

Status

Introduced

1/21/2020

Primary Sponsor

Gary Stevens

Click for details

Origin

Senate

31st Legislature

AI Summary

  • Expands tax credit eligibility to include processing of herring, pollock, and cod in addition to salmon, effective January 1, 2021
  • Extends deadline for property placed into service from December 31, 2020 to December 31, 2025
  • Applies tax credit to qualified investments in equipment for ice making, processing, packaging, and product finishing functions for value-added seafood products
  • Allows unused credits to be carried forward and applied against tax liability for herring, pollock, and cod in the following three tax years
  • Repeals AS 43.75.035 and 43.75.130(f) on January 1, 2026, making the tax credit program temporary

Legislative Description

Seafood Product Development Tax Credit

Education

Last Action

REFERRED TO FINANCE

3/21/2020

Committee Referrals

Finance3/21/2020
Resources1/21/2020

Full Bill Text

No bill text available