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AK SB1003

Bill

Official Source

Status

Introduced

8/2/2025

Primary Sponsor

Rules

Click for details

Origin

Senate

34th Legislature

AI Summary

  • 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 state compacts
  • Adds tax credits for contributions to state-funded literacy programs administered by the Department of Education and Early Development
  • Increases the combined annual cap on education tax credits from $3,000,000 to $10,000,000 per taxpayer or affiliated group
  • Applies these changes across seven 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

Legislative Description

Education Tax Credits

Education

Last Action

REFERRED TO FINANCE

8/2/2025

Committee Referrals

Finance8/2/2025

Full Bill Text

No bill text available