AK HB1003

Expands education tax credits to include contributions of cash or equipment to public schools or programs operated by tribal entities or tribally empowered Alaska Native organizations through compacts with the state

Adds state-funded literacy programs administered by the Department of Education and Early Development as eligible recipients for education tax credit contributions

Increases the maximum combined education tax credit cap from $3,000,000 to $10,000,000 per taxpayer or affiliated group per tax year

Applies to seven different tax types: insurance tax, income tax, oil/gas producer tax, property tax, mining business tax, fisheries business tax, and fisheries resource landing tax

Takes effect January 1, 2026