Alaska HB129 modifies the fisheries product development tax credit, clarifying eligible investments and setting a 50% cap on the credit amount.

Alaska HB129 amends the fisheries product development tax credit, specifying that eligible investments include equipment for processing, packaging, or finishing fish products, with a cap of 50% of the tax liability for processing eligible fish. The bill also defines "used predominantly" as 51% or more of the time and sets a preliminary determination period of 60 days for investment qualification. The changes are retroactive to January 1, 2025, and the credit will expire on December 31, 2029.

Alaska HB129 modifies the fisheries product development tax credit, clarifying eligible investments and setting a 50% cap on the credit amount.

Alaska HB129 amends the fisheries product development tax credit, specifying that eligible investments include equipment for processing, packaging, or finishing fish products, with a cap of 50% of the tax liability for processing eligible fish. The bill also defines "used predominantly" as 51% or more of the time and sets a preliminary determination period of 60 days for investment qualification. The changes are retroactive to January 1, 2025, and the credit will expire on December 31, 2029.