SB0120A -1- SB 120
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SENATE BILL NO. 120
IN THE LEGISLATURE OF THE STATE OF ALASKA
THIRTY-THIRD LEGISLATURE - FIRST SESSION
BY THE SENATE EDUCATION COMMITTEE
Introduced: 3/31/23
Referred: Education, Finance
A BILL
FOR AN ACT ENTITLED
"An Act extending the education tax credits; providing for an effective date by 1
amending the effective date of secs. 1, 2, and 21, ch. 61, SLA 2014; and providing for an 2
effective date." 3
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 4
* Section 1. AS 21.96.070(b) is amended to read: 5
(b) The amount of the credit is 6
(1) 50 percent of contributions of not more than $100,000;
7
(2) 100 percent of the next $200,000 of contributions; and 8
(3) 50 percent of the amount of contributions that exceed $300,000. 9
* Sec. 2. AS 21.96.070(d) is amended to read: 10
(d) A contribution claimed as a credit under this section may not 11
(1) be the basis for a credit claimed under another provision of this 12
title; and 13
(2) when combined with contributions that are the basis for credits 14 33-LS0650\A
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taken during the taxpayer's tax year under AS 43.20.014, AS 43.55.019, 1
AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 2
amount of credits exceeding $5,000,000 [$1,000,000]; if the taxpayer is a member of 3
an affiliated group, then the total amount of credits may not exceed $5,000,000 4
[$1,000,000] for the affiliated group; in this paragraph, "affiliated group" has the 5
meaning given in AS 43.20.145. 6
* Sec. 3. AS 43.20.014(b) is amended to read: 7
(b) The amount of the credit is 8
(1) 50 percent of contributions of not more than $100,000; 9
(2) 100 percent of the next $200,000 of contributions; and 10
(3) 50 percent of the amount of contributions that exceed $300,000. 11
* Sec. 4. AS 43.20.014(d) is amended to read: 12
(d) A contribution claimed as a credit under this section may not 13
(1) be the basis for a credit claimed under another provision of this 14
title; 15
(2) also be allowed as a deduction under 26 U.S.C. 170 against the tax 16
imposed by this chapter; and 17
(3) when combined with contributions that are the basis for credits 18
taken during the taxpayer's tax year under AS 21.96.070, AS 43.55.019, 19
AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 20
amount of credits exceeding $5,000,000 [$1,000,000]; if the taxpayer is a member of 21
an affiliated group, then the total amount of credits may not exceed $5,000,000 22
[$1,000,000] for the affiliated group; in this paragraph, "affiliated group" has the 23
meaning given in AS 43.20.145. 24
* Sec. 5. AS 43.55.019(b) is amended to read: 25
(b) The amount of the credit is 26
(1) 50 percent of contributions of not more than $100,000; 27
(2) 100 percent of the next $200,000 of contributions; and 28
(3) 50 percent of the amount of contributions that exceed $300,000. 29
* Sec. 6. AS 43.55.019(d) is amended to read: 30
(d) A contribution claimed as a credit under this section may not 31 33-LS0650\A
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(1) be the basis for a credit claimed under another provision of this 1
title; and 2
(2) when combined with contributions that are the basis for credits 3
taken during the taxpayer's tax year under AS 21.96.070, AS 43.20.014, 4
AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 5
amount of credits exceeding $5,000,000 [$1,000,000]; if the taxpayer is a member of 6
an affiliated group, then the total amount of credits may not exceed $5,000,000 7
[$1,000,000] for the affiliated group; in this paragraph, "affiliated group" has the 8
meaning given in AS 43.20.145. 9
* Sec. 7. AS 43.56.018(b) is amended to read: 10
(b) The amount of the credit is 11
(1) 50 percent of contributions of not more than $100,000; 12
(2) 100 percent of the next $200,000 of contributions; and 13
(3) 50 percent of the amount of contributions that exceed $300,000. 14
* Sec. 8. AS 43.56.018(d) is amended to read: 15
(d) A contribution claimed as a credit under this section may not 16
(1) be the basis for a credit claimed under another provision of this 17
title; and 18
(2) when combined with contributions that are the basis for credits 19
taken during the taxpayer's tax year under AS 21.96.070, AS 43.20.014, 20
AS 43.55.019, AS 43.65.018, AS 43.75.018, or AS 43.77.045, result in the total 21
amount of credits exceeding $5,000,000 [$1,000,000]; if the taxpayer is a member of 22
an affiliated group, then the total amount of credits may not exceed $5,000,000 23
[$1,000,000] for the affiliated group; in this paragraph, "affiliated group" has the 24
meaning given in AS 43.20.145. 25
* Sec. 9. AS 43.65.018(b) is amended to read: 26
(b) The amount of the credit is 27
(1) 50 percent of contributions of not more than $100,000; 28
(2) 100 percent of the next $200,000 of contributions; and 29
(3) 50 percent of the amount of contributions that exceed $300,000. 30
* Sec. 10. AS 43.75.018(d) is amended to read: 31 33-LS0650\A
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(d) A contribution claimed as a credit under this section may not 1
(1) be the basis for a credit claimed under another provision of this 2
title; and 3
(2) when combined with contributions that are the basis for credits 4
taken during the taxpayer's tax year under AS 21.96.070, AS 43.20.014, 5
AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.77.045, result in the total 6
amount of the credits exceeding $5,000,000 [$1,000,000]; if the taxpayer is a member 7
of an affiliated group, then the total amount of credits may not exceed $5,000,000 8
[$1,000,000] for the affiliated group; in this paragraph, "affiliated group" has the 9
meaning given in AS 43.20.145. 10
* Sec. 11. AS 43.75.018(b) is amended to read: 11
(b) The amount of the credit is 12
(1) 50 percent of contributions of not more than $100,000; 13
(2) 100 percent of the next $200,000 of contributions; and 14
(3) 50 percent of the amount of contributions that exceed $300,000. 15
* Sec. 12. AS 43.75.018(d) is amended to read: 16
(d) A contribution claimed as a credit under this section may not 17
(1) be the basis for a credit claimed under another provision of this 18
title; and 19
(2) when combined with contributions that are the basis for credits 20
taken during the taxpayer's tax year under AS 21.96.070, AS 43.20.014, 21
AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.77.045, result in the total 22
amount of the credits exceeding $5,000,000 [$1,000,000]; if the taxpayer is a member 23
of an affiliated group, then the total amount of credits may not exceed $5,000,000 24
[$1,000,000] for the affiliated group; in this paragraph, "affiliated group" has the 25
meaning given in AS 43.20.145. 26
* Sec. 13. AS 43.77.045(b) is amended to read: 27
(b) The amount of the credit is 28
(1) 50 percent of contributions of not more than $100,000; 29
(2) 100 percent of the next $200,000 of contributions; and 30
(3) 50 percent of the amount of contributions that exceed $300,000. 31 33-LS0650\A
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* Sec. 14. AS 43.77.045(d) is amended to read: 1
(d) A contribution claimed as a credit under this section may not 2
(1) be the basis for a credit claimed under another provision of this 3
title; and 4
(2) when combined with contributions that are the basis for credits 5
taken during the taxpayer's tax year under AS 21.96.070, AS 43.20.014, 6
AS 43.55.019, AS 43.56.018, AS 43.65.018, or AS 43.75.018, result in the total 7
amount of the credits exceeding $5,000,000 [$1,000,000]; if the taxpayer is a member 8
of an affiliated group, then the total amount of credits may not exceed $5,000,000 9
[$1,000,000] for the affiliated group; in this paragraph, "affiliated group" has the 10
meaning given in AS 43.20.145. 11
* Sec. 15. Section 37, ch. 61, SLA 2014, as amended by sec. 40, ch. 101, SLA 2018, is 12
amended to read: 13
Sec. 37. Sections 1, 2, and 21, ch. 61, SLA 2014 [OF THIS ACT] take effect 14
January 1, 2031 [2025]. 15
* Sec. 16. This Act takes effect January 1, 2024. 16