AK SB120

Extends education tax credits for contributions to Alaska educational institutions and programs, increasing the aggregate credit limit from $1,000,000 to $5,000,000 per taxpayer or affiliated group per tax year.

Adds a new eligible use for credits: nonprofit organizations dedicated to promoting statewide academic achievement through student scholarships in interdisciplinary curricula covering economics, science, social science, literature, music, art, math, writing, speech, and interview skills.

Applies credit extension to multiple tax types including insurance premium tax, individual income tax, corporate income tax, oil and gas production tax, mining tax, fisheries tax, and floating fisheries business tax.

Updates federal apprenticeship law reference from 29 U.S.C. 50-50b to 29 U.S.C. 50-50c (National Apprenticeship Act).

Delays the expiration of original credit provisions (sections 1, 2, and 21 of ch. 61, SLA 2014) from January 1, 2025 to January 1, 2031; bill itself takes effect January 1, 2024.