Bill > SB130

This bill modifies the Fisheries Product Development Tax Credit program by extending the deadline for claiming credits related to qualified investments in processing equipment from December 31, 2026, to December 31, 2036, and repealing the program on January 1, 2037, instead of January 1, 2027. It also clarifies that the tax credit applies to any species of fish or shellfish, not just specific types like salmon or herring, and expands the definition of qualified investments to include ice-making machines and other temperature-reducing technologies, as well as new canning equipment for herring products and equipment to transform fish byproducts into saleable items. Additionally, the bill mandates that the state department must make a preliminary determination on whether a proposed investment qualifies for the credit within 60 days of receiving the submission, and this Act is retroactive to January 1, 2026, with the rest of the Act taking effect immediately.