HomeMy WebLinkAboutRESOLUTION 2002-14Suggested by: Mayor Williams
CITY OF KENAI
RF.~OLUTION NO. 2002-14
A RESOLUTION OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, SUPPORTING
THE PASSAGE OF HB 488, ALLOWING INSURANCE TAX CREDITS FOR GIFTS TO
SCHOOLS FOR THE STUDY OF MATH, SCIENCE, AND TECHNOLOGY.
WHEREAS, HB 488 will allow tax credits for cash contributions made for instruction at
a school for the study of math, science, and technology; and,
WHEREAS, the Challenger Learning Center of Alaska is a specialized learning institute
established to teach students better skills in the subjects of math, science and
technology; and,
WHEREAS, efforts are now being made for the creation of the Challenger Learning
Center of Alaska Foundation which will allow receipt of cash contributions that may be
made to further the Center's efforts to deliver an ongoing and lasting program of study;
and,
WHEREAS, passage of HB 488 will authorize and encourage cash contributions to the
Challenger Learning Center of Alaska Foundation.
NOW, THEREFORE, BE IT RESOLVED BY THE couNCIL OF THE CITY OF KENAI,
ALASKA, that it supports the passage of HB 488, allowing insurance tax credits for
gifts made to schools for the study of math, science, and technology.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this sixth day of March,
2002.
ATTEST:
Carol L. Freas, City Clerk
clf
Bill History/Action Display
BILL' HB 488 SHORT TITLE: INS. CREDIT MATH, SCIENCE & TECH. STUDIES
BILL VERSION:
SPONSOR(S)' REPRESENTATIVE(S)CHENAULT
.CURRENT STATUS: (H) EDU STATUS DATE: 02/19/02
THEN HES, FIN
TITLE: "An Act relating to an insurance tax credit for a gift to a school for math, science, and technology; and providing for
an effective date."
[ .............................................................. Ii No Fiscal Notes Available
Jm-Date Jm-Page
02/19/02 2319
02/19/02 2319
02/19/02 2319
Action
(H) READ THE FIRST TIME - REFERRALS
(H) EDU, HES, FIN
(H) REFERRED TO EDUCATION
Similar Subject Match or Exact Subject Match
EDUCATION
INSURANCE
SCHOOLS
SCIENCE & TECHNOLOGY
TAXATION
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HOUSE BILL NO. 488
IN THE LEGISLATURE OF THE STATE OF ALASKA
TWENTY-SECOND LEGISLATURE- SECOND SESSION
BY REPRESENTATIVE CHENAULT
Introduced: 2/19/02
Referred: House Special Co~nmittee on Education, Health, Education and Social Services,..Finance
ABILL
FOR AN ACT ENTITLED
"An Act relating to an insurance tax credit for a gift to a school for math, science, and
technology; and providing for an effective date."
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
* Section 1. AS 21.89 is amended by adding a new section to read.:
Sec. 21.89.077. Insurance tax credit for gilts to a school for the study of
math, science, and technology. (a) For cash co.ntributions prequalified under (d) of
this section and. made for instruction at a school tbr the study of math, science, and
teclmology, a taxpayer is allowed a credit against the tax due under AS 21.09.210.
(b) The amount of the credit allowed to a taxpayer under (a) of this section is
the lesser of
(1) an amount equal to
(A) 50 percent of contributions of not more than $100,000; and.
(B) 100 percent of the next $100,000 of contributions; or
(2) 50 percent of the taxpayer's tax liability 'under this title.
HB0488a ,1- HB 488
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(c) A contribution claimed by a taxpayer as a credit under this section may not
(1) be claimed as a credit under more than one provision of this title;
(21) When combined with credits taken during the taxpayer's tax year
'under AS 43.20.014, AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or
AS 43.77.045, exceed $150,000; or
(3) be claimed as a credit unless the contribution qualifies for the credit
under (d) of this section.
(d) A taxpayer may not claim a contribution as a credit under (a) of this
section 'unless the taxpayer applies to the director tbr prequalification of the
contribution as a tax credit and receives written notice fi'om the director that the
contribution prequalifies for the tax credit described under this section. The director
shall allow prequalified tax credits for contributions under this section in the order that
the director receives applications by taxpayers and may' not provide notice of
prequalification .if the taxpayer's contribution would cause the total contributions made
by all taxpayers during the calendar tax year to exceed $900,000.
~ Sec. 2. AS 43.20.014(d) is amended to read:
(d) A contribution claimed, as a credit under this section may not
(1) be claimed as a credit under another provision of this title;
(2) also be allowed as a deduction under 26 'U.S.C. 1'70 against the tax
imposed by this chapter; and
(31) When combined with credits taken during the taxpayer's tax year
· under AS 21.89.070, 21.89.075, 21.89.077~ AS 43.55.019, AS 43.56.018,
AS 43.65.018, AS 43.75.018, or AS 43.77.045, exceed. $150,000.
~ Sec. 3. AS 43.55.019(d) is amended to read:
(d) A contribution claimed as a credit under this section may not
(1) be claimed as a credit under another provision of this title; and
(2) when combined with credits taken during the taxpayer's tax 'year
under AS 21.89.070, 21.89.075, 21.89.077~ AS 43.20.014, AS 43.56.018,
AS 43.65.018, AS 43.75.018, or AS 43.77.045, exceed $150,000.
· Sec. 4. AS 43.56.018(d) is amended to read:
(d) A contribution claimed, as a credit under this section may not
HB 488 -2- HB0488a
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(1) be claimed as a credit under another provision of this title; and
(2) when combined with credits taken during the taxpayer's tax year
under AS 21.89.070, 21.89.075, 21.89.077~ AS 43.20.01.4, AS 43.55.019,
AS 43.65.018, AS 43.75.018, or AS 43.77.045, exceed. $150,000.
* Sec. 5. AS 43.65.018(d) is amended to read:
(d) A contribution claimed as a credit under this section may not
(1) be claimed as a credit under another provision of this title; and
(2.) when combined with credits taken during the taxpayer's tax 'year
under AS 21.89.070, 21.89.075, 21.89.077~ AS 43.20.014, AS 43.55.01.9,
[AS 43.65.018,] AS 43.75.018, or AS 43.77.045, exceed $150,000.
* Sec. 6. AS 43.75.018(d) is amended to read:
(d) A contribution claimed, as a credit under this section may not
(1) be claimed as a credit under another provision of this title; and
(2) when combined with credits taken during the taxpayer's tax year
under AS 21.89.070, 21.89.075, 21.89.077~ AS 43.20.014, AS 43.55.019,
AS 43.56.018, [AS 43.75.018,] or AS 43.77.045, exceed $150,000.
* Sec. 7. AS 43.77.045(c) is amended to read:
(c) A contribution claimed as a credit under this section may not
(1) be claimed as a credit under another provision of this title; and
(2) when combined with credits taken during the taxpayer's tax year
under AS 21.89.070, 21.89.075, 21.89.077~ AS 43.20.014, AS 43.55.019,
AS 43.56.018, AS 43.65.018, or AS 43.75.018, exceed. $150,000.
* Sec. 8. This Act takes effect July 1, 2002.
HB0488a -3- HB 488
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Journal Text
02-19-2002 House Journal
HB 488
HOUSE' BILL NO. 488 by Representative Chenault, entitled'
2319
"An Act relating to an insurance tax credit for a gift to a school for
math, science, and technology; and providing for an effective
dar e."
was read the first time and referred to the House Special Committee on
Education and the Health, Education & Social Services and Finance
Committees.
Bill Root:
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