AlaskaFisheries businesses could seek early tax credit decisions
An enrolled Alaska bill would let fisheries businesses seek a decision on planned investments and sets January 1, 2037, as the repeal date for specified tax provisions.
What it does
A fisheries business may ask the department whether a planned investment qualifies for the tax credit. The department must answer within 60 days, and its answer is binding unless the business materially misrepresented its submission.
The printed rules cover fish and shellfish, and equipment used to make value-added fish products, including processing equipment and machines that turn discarded fish parts into saleable goods. Transport gear, tools, and equipment used only incidentally do not qualify.
The printed law makes credit recipient counts and total credits claimed for each eligible fish species public information. It sets January 1, 2037, as the repeal date for specified tax provisions.
Argument forA fisheries business could get a binding answer about a planned investment within 60 days, helping it decide whether to proceed.
Argument againstBusinesses might be unable to count transport gear, tools, or equipment used only incidentally toward the credit, narrowing which investments qualify.
More detail
A fisheries business may ask the department whether a planned investment qualifies for the tax credit. The process is for a taxpayer that is a fisheries business. The department’s decision is binding unless it finds the business materially misrepresented its submission. The department must decide within 60 days after receiving the proposed investment.
The printed rules define which fish and equipment can qualify for the tax credit. Eligible fish means any species of fish or shellfish, except as otherwise provided in the credit rules. Equipment must be used at least 51 percent of the time for the qualifying purpose. Equipment must have a useful life of at least three years and be used mainly for ice-making, processing, packaging, or finishing a value-added fish product. Vehicles, transport equipment, tools, supplies, and equipment used only incidentally are excluded, as is property used mainly to produce fish products not taxed under the chapter.
The printed law makes the number of credit recipients and the total claimed for each fish species public information and sets a repeal date for specified tax provisions. The public information is the number of recipients and total credits claimed for each eligible fish species. The repeal date applies to the provisions named in the cited clause. The specified provisions are set to be repealed on January 1, 2037.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jul 1(S) EFFECTIVE DATE(S) OF LAW SEE CHAPTERLatest
- Jul 1(S) LAW W/O GOVERNOR SIGNATURE 6/22 CHAPTER 32 SLA 26Major
- Jun 15(S) 10:45 A.M. 6/8/26 Transmitted to GovernorTo Governor
- May 17(H) VERSION: CSSB 130(FIN)
- Vote recorded (H) PASSED Y40 #2698. Result: pass.Lower
- May 17(H) RETURN TO (S), TRANSMIT TO GOVERNOR NEXT
- May 17(H) EFFECTIVE DATE(S) SAME AS PASSAGE
- May 17(H) PASSED Y40Major
- May 17(H) READ THE THIRD TIME CSSB 130(FIN)Minor
- May 17(H) ADVANCED TO THIRD READING UCMinor
- May 17(H) READ THE SECOND TIMEMinor
- May 17(H) RULES TO CALENDAR 5/17/2026
- May 14(H) FN3: INDETERMINATE(REV)
- May 14(H) AM: ALLARD, MOORE
- May 14(H) NR: TOMASZEWSKI, JOSEPHSON, FOSTER
- May 14(H) DP: JIMMIE, GALVIN, HANNAN, STAPP, BYNUM, SCHRAGE
- May 14(H) FIN RPT 6DP 3NR 2AM
- May 13(H) Moved CSSB 130(FIN) Out of Committee -- Delayed to 2:00 pm --
- May 13(H) FINANCE at 01:30 PM ADAMS 519
- May 11(H) Scheduled but Not Heard -- Please Note Time Change --
- May 11(H) FINANCE at 09:00 AM ADAMS 519
- May 4(H) Heard & Held -- Please Note Time Change --
- May 4(H) FINANCE at 09:00 AM ADAMS 519
- Apr 29(H) Minutes (HFIN)
- Apr 29(H) Heard & Held -- Please Note Time Change --
- Apr 29(H) FINANCE at 09:00 AM ADAMS 519
- Apr 8(H) FIN
- Apr 8(H) READ THE FIRST TIME - REFERRALSMinor
- Apr 1(S) VERSION: CSSB 130(FIN)
- Vote recorded (S) PASSED Y17 N3 #2126. Result: pass.Upper
- Apr 1(S) TRANSMITTED TO (H)Passed House
- Apr 1(S) EFFECTIVE DATE(S) SAME AS PASSAGE
- Apr 1(S) PASSED Y17 N3Passed Senate
- Apr 1(S) READ THE THIRD TIME CSSB 130(FIN)Minor
- Mar 31(S) ADVANCED TO THIRD READING 4/1 CALMinor
- Mar 31(S) FIN CS ADOPTED UC
- Mar 31(S) READ THE SECOND TIMEMinor
- Mar 31(S) RULES TO CALENDAR 3/31/2026
- Mar 25(S) FN2: INDETERMINATE(REV)
- Mar 25(S) NR: KAUFMAN, MERRICK
- Mar 25(S) DNP: CRONK
- Mar 25(S) AM: OLSON
- Mar 25(S) DP: STEDMAN, HOFFMAN, KIEHL
- Mar 25(S) FIN RPT CS 3DP 1AM 1DNP 2NR SAME TITLE
- Mar 24(S) Moved CSSB 130(FIN) Out of Committee
- Mar 24(S) FINANCE at 09:00 AM SENATE FINANCE 532
- Mar 19(S) Heard & Held
- Mar 19(S) FINANCE at 09:00 AM SENATE FINANCE 532
- Mar 10(S) Minutes (SFIN)
- Mar 10(S) Heard & Held
- Mar 10(S) FINANCE at 09:00 AM SENATE FINANCE 532
- Mar 5(S) CS(RES)(CORRECTED) RECEIVED
- 2025
- Apr 15(S) FN1: INDETERMINATE(REV)
- Apr 15(S) NR: MYERS, WIELECHOWSKI, HUGHES, CLAMAN
- Apr 15(S) DP: GIESSEL, DUNBAR
- Apr 15(S) RES RPT CS 2DP 4NR NEW TITLE
- Apr 11(S) Minutes (SRES)
- Apr 11(S) Moved CSSB 130(RES) Out of Committee
- Apr 11(S) RESOURCES at 03:30 PM BUTROVICH 205
- Apr 9(S) Minutes (SRES)
- Apr 9(S) Heard & Held
- Apr 9(S) RESOURCES at 03:30 PM BUTROVICH 205
- Mar 31(S) Minutes (SRES)
- Mar 31(S) Heard & Held
- Mar 31(S) RESOURCES at 03:30 PM BUTROVICH 205
- Mar 12(S) RES, FIN
- Mar 12(S) READ THE FIRST TIME - REFERRALSIntroduced
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