Bill > SB135

This bill modifies the distribution of fisheries business tax and fishery resource landing tax revenue to municipalities in Alaska, making several key changes to how these funds are allocated and reported. The legislation increases the percentage of tax revenue shared with various municipal entities (unified municipalities, cities, and boroughs) from previous levels, with percentages ranging from 25% to 75% depending on the specific jurisdiction and year after borough incorporation. The bill mandates that municipalities receiving these tax funds must use 10% of the revenue to support or enhance commercial fishing, and requires municipalities that receive more than $10,000 in such tax revenue to submit an annual report to the legislature detailing how the funds were used, with a particular focus on harbor maintenance and improvement projects. Additionally, the bill includes a legislative intent statement that municipalities should use the additional revenue to help maintain and improve harbor facilities if they operate such facilities. The changes to tax revenue distribution and reporting will primarily apply to tax revenues collected from the 2025 tax year onward, with some provisions taking effect in different years up to 2035. The bill aims to provide more financial support and transparency for municipalities involved in fisheries-related economic activities.

Agriculture and Natural Resources, Budget and Finance

Rules (Senate)

https://www.akleg.gov/basis/Bill/Detail/34?Root=SB135