2013 Alaska Statutes
Title 43 - REVENUE AND TAXATION
Chapter 43.98 - MISCELLANEOUS PROVISIONS
Article 03 - TRANSFERABLE FILM PRODUCTION TAX CREDIT
Sec. 43.98.030 Film production tax credit. [See delayed repeal note]..

(a) The department shall provide a transferable film production tax credit certificate to a producer, as defined in AS 44.25.190 , for qualified production expenditures under AS 44.25.100 - 44.25.190. The department shall publish the name and contact information for each person provided a transferable tax credit certificate under this subsection.

(b) A tax credit certificate provided under (a) of this section may be sold, assigned, exchanged, conveyed, or otherwise transferred in whole or in part.

(c) A taxpayer acquiring a transferable tax credit certificate may use the credit or a portion of the credit to offset taxes imposed under AS 21.09.210 , AS 21.66.110 , AS 43.20, AS 43.55, AS 43.56, AS 43.65, AS 43.75, and AS 43.77. Except as provided in (e) of this section, any portion of the credit not used may be used at a later period or transferred under (b) of this section.

(d) The department shall adopt regulations necessary for the administration of this section.

(e) A transferable film production tax credit certificate provided under (a) of this section, whether sold, assigned, exchanged, conveyed, or otherwise transferred, in whole or in part, must be used within six years after being provided by the department.

(f) The total amount of tax credits provided in the aggregate under this section may not exceed

(1) $100,000,000 for productions qualified under former AS 44.33.234 before July 1, 2013; and

(2) $200,000,000 for productions qualified under AS 44.25.120 after June 30, 2013, and before July 1, 2023.

(g) A person acquiring two or more film production tax credit certificates provided under (a) of this section may combine the unused amounts of the credits for sale, assignment, exchange, conveyance, or other transfer. At the request of a person holding a film production tax credit, the department shall replace a certificate that represents the full amount of tax credit available with multiple certificates that each represent a portion of the total tax credit available for the purpose of sale, assignment, exchange, conveyance, or other transfer under this subsection or, on request, shall provide one tax credit certificate that represents the combined value of multiple tax credit certificates. A tax credit certificate provided by the department under this subsection must state the expiration date and the amount of each credit that is included in the certificate. Combining or splitting unused amounts of credits under this subsection does not change or extend the time period in which each credit that is included in the combination or split must be used.

(h) Subject to appropriation, the department may purchase a transferable film production tax credit certificate for 75 percent of the amount of each credit that is included in the certificate.