Sponsor Statement for House Bill 21

With reduced funding for public broadcasting, I introduced House Bill 21 to provide an alternative funding source and lessen the general fund demand for this service.

This bill provides a tax credit for cash contributions made to a trust fund for public broadcasting which is established in this legislation. The credit to public broadcasting trust fund is limited to 50% of $300,000. The tax credit would be applied against a taxpayer's liability under the following tax types: the insurance premium tax (AS 21.09.210), tax on title insurance premiums (AS 21.66.110), corporation income (AS 43.20), oil and gas production (AS 43.55), oil and gas property (AS 43.56) and mining license (AS 43.65). The credit claimed under one of the tax types may not be claimed under another tax type and may not be deducted against a tax imposed under the titles of the tax types previously listed.

A different maximum for the insurance premium tax and the title insurance tax is established. An attached memorandum from Legislative Counsel Jack Chenoweth explains the limitation.

The public broadcast provisions of this legislation sunsets after December 31, 2002.