AK HB129

Extends the fisheries product development tax credit deadline from December 31, 2026 to December 31, 2029 for property placed into service, with the overall program repeal date moved from January 1, 2027 to January 1, 2030

Expands "eligible fish" from specific species (salmon, herring, pollock, sablefish, Pacific cod) to include any species of fish or shellfish

Adds macroalgae harvesting and processing equipment as qualifying investments for the tax credit, alongside eligible fish processing equipment

Requires the Department of Revenue to issue preliminary determinations on whether proposed investments qualify for the credit within 60 days of submission

Defines "used predominantly" as 51 percent or more of the time and applies retroactively to January 1, 2025