Signed by Governor Michael Dunleavy

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that establishes a fisheries product development tax credit.

Highlights:

• Establishes information in possession of the Department of Revenue to be confidential (Sec. 1).

• Authorizes the release of information by the Department of Revenue for law enforcement (Sec. 2).

• Authorizes fisheries to claim up to 50% of qualified investment in new property (Sec. 4). 

• Prohibits “eligible fish” from including pollock, sablefish, or Pacific cod (Sec. 4). 

• Defines recapture percentage (Sec. 4).

• Authorizes taxpayers to claim credit for each eligible type of fish (Sec. 4).

• Authorizes tax revenue to be calculated as if no credit was applied (Sec. 5).  

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a substitute bill that establishes a fisheries product development tax credit.

Highlights:

• Establishes information in possession of the Department of Revenue to be confidential (Sec. 1).

• Authorizes the release of information by the Department of Revenue for law enforcement (Sec. 2).

• Authorizes fisheries to claim up to 50% of qualified investment in new property (Sec. 4). 

• Prohibits “eligible fish” from including pollock, sablefish, or Pacific cod (Sec. 4). 

• Defines recapture percentage (Sec. 4).

• Authorizes taxpayers to claim credit for each eligible type of fish (Sec. 4).

• Authorizes tax revenue to be calculated as if no credit was applied (Sec. 5).  

Full Bill Text