Alaska 2025-2026 Regular Session

Alaska House Bill HB121 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
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2	2	HB0121a -1- HB 121
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5	5	34-LS0382\N
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10	10
11	11	HOUSE BILL NO. 121
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13	13	IN THE LEGISLATURE OF THE STATE OF ALASKA
14	14
15	15	THIRTY-FOURTH LEGISLATURE - FIRST SESSION
16	16
17	17	BY REPRESENTATIVE SCHRAGE
18	18
19	19	Introduced: 2/28/25
20	20	Referred: Labor and Commerce
21	21
22	22
23	23	A BILL
24	24
25	25	FOR AN ACT ENTITLED
26	26
27	27	"An Act relating to the practice of accounting; and providing for an effective date." 1
28	28	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 2
29	29	* Section 1. AS 08.04.120(a) is amended to read: 3
30	30	(a) The education and experience requirements for an applicant are a 4
31	31	baccalaureate degree or its equivalent conferred by a college or university acceptable 5
32	32	to the board [AND ADDITIONAL SEMESTER HOURS OR POST-6
33	33	BACCALAUREATE STUDY SO THAT THE TOTAL EDUCATIONAL 7
34	34	PROGRAM INCLUDES AT LEAST 150 HOURS,] with an accounting concentration 8
35	35	or equivalent as determined by the board by regulation to be appropriate [,] and two 9
36	36	years of accounting experience satisfactory to the board. 10
37	37	* Sec. 2. AS 08.04.240(f) is amended to read: 11
38	38	(f) An initial permit issued under (a) [OR (k)] of this section lasts for the 12
39	39	remainder of the biennial licensing period during which the initial permit was granted. 13
40	40	* Sec. 3. AS 08.04.240(g) is amended to read: 14
41	41	(g) The board shall renew a permit granted under (a) [OR (k)] of this section 15 34-LS0382\N
42	42	HB 121 -2- HB0121a
43	43	New Text Underlined [DELETED TEXT BRACKETED]
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45	45	or a renewal issued under this subsection if 1
46	46	(1) the permittee maintains all of the licensee's offices that are located 2
47	47	in this state as required by AS 08.04.360 and 08.04.370; 3
48	48	(2) each individual who is required by (a) [OR (k)] of this section to be 4
49	49	a certified public accountant of this state complies with the continuing education 5
50	50	requirements of AS 08.04.425 and the peer review requirements of AS 08.04.426; and 6
51	51	(3) the permittee complies with the requirements of this chapter. 7
52	52	* Sec. 4. AS 08.04.420(a) is amended to read: 8
53	53	(a) An individual who does not have a license in this state, [BUT WHO] is 9
54	54	licensed to practice public accounting in another state, and whose principal place of 10
55	55	business for the practice of public accounting is in the other state may engage in the 11
56	56	practice of public accounting in this state under a practice privilege [IF THE STATE 12
57	57	IN WHICH THE INDIVIDUAL IS LICENSED TO PRACTICE PUBLIC 13
58	58	ACCOUNTING 14
59	59	(1) REQUIRES AS A CONDITION OF LICENSURE THAT AN 15
60	60	INDIVIDUAL 16
61	61	(A) HAVE AT LEAST 150 SEMESTER HOURS OF 17
62	62	COLLEGE EDUCATION, INCLUDING A BACCALAUREATE OR 18
63	63	HIGHER DEGREE CONFERRED BY A COLLEGE OR UNIVERSITY; 19
64	64	(B) ACHIEVE A PASSING GRADE ON THE UNIFORM 20
65	65	CERTIFIED PUBLIC ACCOUNTANT EXAMINATION; AND 21
66	66	(C) POSSESS AT LEAST ONE YEAR OF EXPERIENCE, 22
67	67	WHICH INCLUDES PROVIDING ANY TYPE OF SERVICE OR ADVICE 23
68	68	INVOLVING THE USE OF ACCOUNTING, ATTEST, COMPILATION, 24
69	69	MANAGEMENT ADVISORY, FINANCIAL ADVISORY, TAX, OR 25
70	70	CONSULTING SKILLS; THE EXPERIENCE MAY BE OBTAINED 26
71	71	THROUGH PRACTICE WITH THE GOVERNMENT, INDUSTRY, 27
72	72	COLLEGES, UNIVERSITIES, OR THE PUBLIC; OR 28
73	73	(2) DOES NOT REQUIRE AS A CONDITION OF LICENSURE 29
74	74	THAT AN INDIVIDUAL SATISFY THE REQUIREMENTS OF (1) OF THIS 30
75	75	SUBSECTION, BUT THE INDIVIDUAL'S QUALIFICATIONS ARE 31 34-LS0382\N
76	76	HB0121a -3- HB 121
77	77	New Text Underlined [DELETED TEXT BRACKETED]
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79	79	SUBSTANTIALLY EQUIVALENT TO THE REQUIREMENTS OF (1) OF THIS 1
80	80	SUBSECTION; HOWEVER, FOR THE PURPOSES OF THIS PARAGRAPH, THE 2
81	81	EDUCATION OF AN INDIVIDUAL WHO HOLDS A VALID LICENSE TO 3
82	82	PRACTICE PUBLIC ACCOUNTING THAT IS ISSUED BY ANOTHER STATE 4
83	83	BEFORE JANUARY 1, 2013, AND WHO PASSES THE UNIFORM CERTIFIED 5
84	84	PUBLIC ACCOUNTANT EXAMINATION BEFORE JANUARY 1, 2013, IS 6
85	85	EXEMPT FROM THE EDUCATION REQUIREMENT IDENTIFIED IN (1)(A) OF 7
86	86	THIS SUBSECTION]. 8
87	87	* Sec. 5. AS 08.04.420(c) is amended to read: 9
88	88	(c) An individual or firm that [WHO] may engage in the practice of public 10
89	89	accounting in this state under [(a) OF] this section is not required to provide a notice 11
90	90	to the board, to pay a fee to the board, or to submit documentation to the board in 12
91	91	order to engage in the practice of public accounting in this state. The individual or 13
92	92	firm [PERSON] may engage in the practice of public accounting by mail, by 14
93	93	telephone, by electronic means, or in person. 15
94	94	* Sec. 6. AS 08.04.420 is amended by adding new subsections to read: 16
95	95	(d) A firm that is more than one-half owned by individuals who are certified 17
96	96	public accountants in good standing under this chapter or in another state, has its 18
97	97	principal place of business in another state, and does not have an office in the state 19
98	98	may engage in the practice of public accounting in the state under a practice privilege. 20
99	99	(e) The board may adopt regulations establishing qualifications for an 21
100	100	individual or firm to engage in the practice of public accounting under a practice 22
101	101	privilege. 23
102	102	* Sec. 7. AS 08.04.422 is amended to read: 24
103	103	Sec. 08.04.422. Conditions of practice privileges. An individual or firm with 25
104	104	a practice privilege that [WHO] engages in the practice of public accounting in the 26
105	105	state under the practice privilege [, A FIRM WITH A PERMIT THAT ENGAGES IN 27
106	106	THE PRACTICE OF PUBLIC ACCOUNTING IN THIS STATE,] and a firm th at 28
107	107	hires an individual with a practice privilege shall 29
108	108	(1) consent to the personal and subject matter jurisdiction and 30
109	109	disciplinary authority of the board; 31 34-LS0382\N
110	110	HB 121 -4- HB0121a
111	111	New Text Underlined [DELETED TEXT BRACKETED]
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113	113	(2) agree to comply with this chapter, including the regulations 1
114	114	adopted by the board; 2
115	115	(3) agree that the individual or firm will stop offering to engage or 3
116	116	engaging in the practice of public accounting, whether individually or on behalf of a 4
117	117	firm, if the license from the state of the individual's or firm's principal place of 5
118	118	business becomes invalid; and 6
119	119	(4) consent to the appointment of the state board that issued the 7
120	120	individual's license or firm's authorization to engage in the practice of public 8
121	121	accounting in another state as the individual's or firm's agent for service of process 9
122	122	in a court action or in another proceeding against the individual or firm that arises out 10
123	123	of a transaction or an operation connected with or incidental to the individual's or 11
124	124	firm's engagement in the practice of public accounting. 12
125	125	* Sec. 8. AS 08.04.480 is amended to read: 13
126	126	Sec. 08.04.480. Grounds for discipline of a firm. The board may revoke or 14
127	127	suspend the permit or practice privilege of a firm, [MAY REVOKE, SUSPEND, OR] 15
128	128	refuse to renew the firm's [ITS] permit, or may censure the firm for any of the causes 16
129	129	enumerated in AS 08.04.450 or for any of the following additional causes: 17
130	130	(1) the revocation, suspension, or refusal to renew the license or 18
131	131	practice privilege of an owner of a firm in this state or in another state; 19
132	132	(2) the cancellation, revocation, suspension, or refusal to renew the 20
133	133	permit or authority of the firm to practice public accounting in another state for any 21
134	134	cause other than failure to pay a required fee in that state. 22
135	135	* Sec. 9. AS 08.04.490 is amended to read: 23
136	136	Sec. 08.04.490. Reinstatement. Upon application in writing and after a 24
137	137	hearing, the board may [ISSUE A NEW LICENSE OR ALLOW A PRACTICE 25
138	138	PRIVILEGE TO AN INDIVIDUAL WHOSE LICENSE OR PRACTICE 26
139	139	PRIVILEGE HAS BEEN REVOKED, OR MAY ISSUE A NEW PERMIT TO A 27
140	140	PERSON WHOSE PERMIT HAS BEEN REVOKED, OR MAY] modify the 28
141	141	suspension of or [MAY] reissue a [ANY] license, practice privilege, or permit to 29
142	142	practice public accounting that has been revoked or suspended. 30
143	143	* Sec. 10. AS 08.04.495 is amended to read: 31 34-LS0382\N
144	144	HB0121a -5- HB 121
145	145	New Text Underlined [DELETED TEXT BRACKETED]
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147	147	Sec. 08.04.495. Fees. The department shall set fees under AS 08.01.065 for 1
148	148	examinations, reexaminations, permits, and licenses [, AND PRACTICE 2
149	149	PRIVILEGES]. 3
150	150	* Sec. 11. AS 08.04.510(a) is amended to read: 4
151	151	(a) A firm may not assume or use the title or designation "certified public 5
152	152	accountant" or the abbreviation "CPA" or any other title, designation, word, letter, 6
153	153	abbreviation, sign, card, or device tending to indicate that it is composed of certified 7
154	154	public accountants, unless the firm 8
155	155	(1) holds a permit and is engaging in the practice of public accounting 9
156	156	under the name on its permit; or 10
157	157	(2) is engaging in the practice of public accounting under a 11
158	158	practice privilege. 12
159	159	* Sec. 12. AS 08.04.530 is amended to read: 13
160	160	Sec. 08.04.530. Firm posing as public accountant. A firm may not assume or 14
161	161	use the designation "public accountant" or the abbreviation "PA" or any other title, 15
162	162	designation, word, letter, abbreviation, sign, card, or device tending to indicate that the 16
163	163	firm is composed of public accountants, unless the firm 17
164	164	(1) holds a current permit, is practicing under the name on its permit, 18
165	165	and its office in this state for the practice of public accounting is maintained as 19
166	166	required by AS 08.04.360 and 08.04.370; or 20
167	167	(2) is engaging in the practice of public accounting under a 21
168	168	practice privilege. 22
169	169	* Sec. 13. AS 08.04.565 is amended to read: 23
170	170	Sec. 08.04.565. Prohibited acts. An individual licensed under AS 08.04.105 24
171	171	may not perform attest functions through a firm, unless the firm 25
172	172	(1) holds a valid permit issued under AS 08.04.240; or 26
173	173	(2) is engaging in the practice of public accounting under a 27
174	174	practice privilege. 28
175	175	* Sec. 14. AS 08.04.240(k) is repealed. 29
176	176	* Sec. 15. This Act takes effect January 1, 2026. 30