LAWS OF ALASKA
2015
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Chapter No. |
CSSB 39(L&C) am H |
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AN ACT
Repealing the film production tax credit; providing for an effective date by repealing the effective dates of secs. 31 - 33, ch. 51, SLA 2012; and providing for an effective date.
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
THE ACT FOLLOWS ON PAGE 1
Enrolled SB 39
AN ACT
1Repealing the film production tax credit; providing for an effective date by repealing the
2effective dates of secs. 31 - 33, ch. 51, SLA 2012; and providing for an effective date.
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* Section 1. AS 43.75.130(f) is amended to read: |
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(f) For purposes of this section, tax revenue collected under AS 43.75.015 |
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from a person |
entitled |
to a credit under AS 43.75.035 |
or [,] |
43.75.036 |
[, OR |
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AS 43.98.030] |
shall be |
calculated as if the person's tax |
were |
collected |
without |
8applying the credit; tax revenue collected does not include the amount of a tax credit
9recaptured under AS 43.75.035(g) or 43.75.036(g).
10* Sec. 2. AS 43.75.130(f), as amended by sec. 14, ch. 61, SLA 2014, is amended to read:
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(f) For purposes of this section, tax revenue collected under AS 43.75.015 |
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from a person entitled to a credit under AS 43.75.035 [OR AS 43.98.030] shall be |
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calculated as if the person's tax were collected without applying the credit; tax revenue |
Enrolled SB 39 |
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collected does not include the amount of a tax credit recaptured under |
2AS 43.75.035(g).
3* Sec. 3. AS 43.77.060(e) is amended to read:
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(e) For purposes of this section, tax revenue collected under AS 43.77.010 |
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from a person entitled to a credit under AS 43.77.035 or [,] 43.77.045 [, OR |
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AS 43.98.030] shall be calculated as if the person's tax had been collected without |
7applying the credits.
8* Sec. 4. AS 43.77.060(e), as amended by sec. 17, ch. 61, SLA 2014, is amended to read:
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(e) For purposes of this section, tax revenue collected under AS 43.77.010 |
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from a person entitled to a credit under AS 43.77.045 [OR AS 43.98.030] shall be |
11calculated as if the person's tax had been collected without applying the credits.
12* Sec. 5. AS 44.25.135 is amended to read:
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Sec. 44.25.135. Recovery of film production tax credit. (a) The Department |
14of Revenue [FILM OFFICE] may review, audit, and bring legal proceedings to
15recover any amount of a tax credit awarded under former AS 44.25.125 and former
16AS 44.33.235 [AS 44.25.125] from a producer or production that received the credit
17if the Department of Revenue [TO WHICH A CREDIT WAS AWARDED IF THE
18FILM OFFICE] determines that the film producer or production is liable for damages
19to the state [,] or any political subdivision of the state.
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(b) Legal proceedings may not be brought under (a) of this section more than |
21six years after the date the tax credit was awarded under former AS 44.25.125 and
22former AS 44.33.235 [AS 44.25.125].
23* Sec. 6. Section 28(b), ch. 61, SLA 2014, is amended to read:
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(b) For purposes of AS 43.75.130, tax revenue collected under AS 43.75.015 |
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from a person |
entitled |
to a credit under AS 43.75.035 or [,] 43.75.036 [, OR |
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AS 43.98.030] |
shall be |
calculated as if the person's tax were collected without |
27applying the credit; tax revenue collected does not include the amount of a tax credit
28recaptured under AS 43.75.035(g) or 43.75.036(g). For purposes of AS 43.77.060, tax
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revenue |
collected under AS 43.77.010 from a person entitled to a credit under |
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AS 43.77.035 or [,] 43.77.045 [, OR AS 43.98.030] shall be calculated as if the |
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person's tax had been collected without applying the credits. |
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Enrolled SB 39 |
1 * Sec. 7. AS 24.20.271(12); AS 43.98.030; AS 44.25.100, 44.25.105, 44.25.110, 44.25.115, 2 44.25.120, 44.25.125, 44.25.130, 44.25.140, 44.25.145, 44.25.150, 44.25.190; and
3AS 44.33.231(c) are repealed.
4* Sec. 8. AS 44.25.135 is repealed July 1, 2021.
5* Sec. 9. Sections 31 - 33, 35, 36(b), 36(c), 36(d), 37, and 38, ch. 51, SLA 2012, and secs.
615, 18, 24, 25, 28(c), and 30, ch. 61, SLA 2014, are repealed.
7* Sec. 10. The uncodified law of the State of Alaska is amended by adding a new section to
8read:
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TRANSITION. (a) Subject to AS 43.98.030(f), as that subsection read on June 30, |
102015, limiting the number of tax credits provided in the aggregate under AS 43.98.030, as that
11section read on June 30, 2015, the repeals in
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(1) |
sec. 30, ch. 51, SLA 2012, do not prohibit the Department of Revenue |
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from determining a film production's qualified expenditures, awarding a tax credit, or |
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reviewing a tax |
credit for a production that received a notice of qualification under |
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AS 44.33.235 before July 1, 2013, under the provisions repealed by sec. 30, ch. 51, SLA |
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2012; |
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(2) |
sec. 7 of this Act do not prohibit the Department of Revenue from |
18determining a film production's qualified expenditures, awarding a tax credit, or reviewing a
19tax credit for a production that received a notice of qualification under AS 44.25.125 before
20July 1, 2015, under the provisions repealed by sec. 7 of this Act.
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(b) To qualify for a film production tax credit under (a) of this section, a film |
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producer shall, before January 1, 2019, provide to the Department of Revenue a complete |
23production cost report detailing the qualified expenditures of the production, with verification
24by an independent certified public accountant licensed in the state and approved by the
25Department of Revenue, that the costs claimed in the report are qualified expenditures under
26former AS 44.25.130 or former AS 44.33.236, as applicable, and that there is no outstanding
27balance for a qualified expenditure that is due to a person in the state. The Department of
28 Revenue may not authorize a film production tax credit if the cost report is filed after
29December 31, 2018.
30(c) A film production tax credit may be used to offset taxes imposed under the
31provisions identified in AS 43.98.030(c), or sold or exchanged for a transferable tax credit
Enrolled SB 39 |
1certificate under AS 43.98.030(a), within six years after being provided by the Department of
2Revenue, notwithstanding the repeal of AS 43.98.030 in sec. 7 of this Act.
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(d) A film production tax credit that is being withheld under AS 44.25.125(h) may |
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continue to be withheld by the Department of Revenue, notwithstanding the repeal of |
5AS 44.25.125 in sec. 7 of this Act.
6* Sec. 11. Sections 40 - 42, ch. 51, SLA 2012, are repealed.
7* Sec. 12. Sections 1, 3, 5 - 7, and 9 - 11 of this Act take effect July 1, 2015.
8* Sec. 13. Section 2 of this Act takes effect on the effective date of sec. 14, ch. 61, SLA
92014.
10* Sec. 14. Section 4 of this Act takes effect on the effective date of sec. 17, ch. 61, SLA
112014.
12* Sec. 15. Except as provided in secs. 12 - 14 of this Act, this Act takes effect immediately
13under AS 01.10.070(c).
Enrolled SB 39 |