This bill proposes amendments to various sections of Alaska's tax code to expand tax credits for contributions made to public schools and programs operated by tribal entities or Alaska Native organizations, as well as to state-funded literacy programs. Specifically, it introduces new provisions that allow contributions of cash or equipment to be eligible for tax credits under multiple sections of the law, including AS 21.96.070, AS 43.20.014, AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, and AS 43.77.045.

Additionally, the bill raises the cap on the total amount of credits that can be claimed from $3,000,000 to $10,000,000, both for individual taxpayers and for affiliated groups. This change aims to encourage greater contributions to educational initiatives and support for tribal programs. The effective date for these changes is set for January 1, 2026.

Statutes affected:
SB1003A, AM SB 1003, introduced 08/02/2025: 21.96.070, 43.20.014, 43.55.019, 43.56.018, 43.65.018, 43.75.018, 43.77.045, 43.20.145