State of Alaska
Fiscal Note
Bill Version: HB 144
2024 Legislative Session
Fiscal Note Number: 3
(H) Publish Date: 4/22/2024
Identifier: HB144-DOR-TAX-3-15-24 Department: Department of Revenue
Title: REPEAL EDUCATION TAX CREDITS SUNSET Appropriation: Taxation and Treasury
Sponsor: RUFFRIDGE Allocation: Tax Division
Requester: (H) Finance OMB Component Number: 2476
Expenditures/Revenues
Note: Amounts do not include inflation unless otherwise noted below. (Thousands of Dollars)
Included in
FY2025 Governor's
Appropriation FY2025 Out-Year Cost Estimates
Requested Request
OPERATING EXPENDITURES FY 2025 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030
Personal Services
Travel
Services
Commodities
Capital Outlay
Grants & Benefits
Miscellaneous
Total Operating 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Fund Source (Operating Only)
None
Total 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Positions
Full-time
Part-time
Temporary
Change in Revenues
1004 Gen Fund (UGF) (1,500.0) (3,100.0) (3,100.0) (3,100.0) (3,100.0) (3,100.0)
Total (1,500.0) 0.0 (3,100.0) (3,100.0) (3,100.0) (3,100.0) (3,100.0)
Estimated SUPPLEMENTAL (FY2024) cost: 0.0 (separate supplemental appropriation required)
Estimated CAPITAL (FY2025) cost: 0.0 (separate capital appropriation required)
Does the bill create or modify a new fund or account? No
(Supplemental/Capital/New Fund - discuss reasons and fund source(s) in analysis section)
ASSOCIATED REGULATIONS
Does the bill direct, or will the bill result in, regulation changes adopted by your agency? No
If yes, by what date are the regulations to be adopted, amended or repealed? N/A
Why this fiscal note differs from previous version/comments:
Updated from SLA2023 to SLA2024 fiscal note template. Updated the change in revenues based on an updated fiscal analysis.
Prepared By: Brandon Spanos, Acting Director Phone: (907)269-6736
Division: Tax Division Date: 03/15/2024 03:00 PM
Approved By: Adam Bryan, Division Operations Manager Date:
OUT OF03/15/24
Agency: Department of Revenue REPORTED
Printed 4/22/2024 Page 1 of 2 HFC 04/22/2 024
Control Code: PtHRE
 HB 144 - Fiscal Note 3
FISCAL NOTE ANALYSIS
STATE OF ALASKA BILL NO. HB 144
2024 LEGISLATIVE SESSION
Analysis
Background
The education tax credit is a credit for qualifying contributions to Alaska universities and accredited nonprofit Alaska two‐
or four‐year colleges for facilities, direct instruction, research and educational support purposes; donations to a school
district or a state‐operated technical and training school for vocational education courses, programs and facilities; and
donations for Alaska Native cultural or heritage programs for public school staff and students, and a facility in the state
that qualifies as a coastal ecosystem learning center under the Coastal American Partnership.
The credit is available to be claimed against insurance premiums tax, title insurance premiums tax, corporate income tax,
oil and gas production tax, oil and gas property tax, mining license tax, fisheries business tax, and fishery resource landing
tax. The credit for any one taxpayer cannot exceed $1 million annually across all tax types. The credit is currently
scheduled to sunset on January 1, 2025.
The bill repeals the sunset provisions.
Revenue Impact
The change in revenues reported here only include those eligible tax programs administered by the Department of
Revenue (Department). The bill's fiscal impacts is from eliminating the current repeal provisions beyond 2025. The
revenue impact of eliminating the sunset provisions assumes similar average usage to the past three years will continue
for the foreseeable future.
Implementation Cost
This legislation would require the Department to make minor changes to its Tax Revenue Management System ("TRMS").
Resources required to implement this bill would include staff time to updated tax forms, TRMS, and Revenue Online, and
other miscellaneous costs when applicable. These costs will be absorbed by the Tax Division using existing resources.
(Revised 10/31/2023 OMB/LFD) Page 2 of 2
HB144-DOR-TAX-3-15-24 Page 2 of 2 Control Code: PtHRE


Statutes affected:
HB0144B, AM HB 144 am, introduced 05/01/2024, passed House 05/02/2024: 21.96.070, 43.20.014, 43.55.019, 43.56.018, 43.65.018, 43.75.018, 43.77.045