1988-54 Requesting the Amendment and Extension of AS 43.75.032 Which Authorizes State Fisheries Business Tax Credits to Fish Processors.ATTEST:
KODIAK ISLAND BOROUGH
RESOLUTION NO. 88 -54 -R
Boro�� Clerk
By:
Introduced:
Adopted:
PASSED AND APPROVED this 15th day of SEPTEMBER, 1988.
Kodiak Island Borough
Mayor Selby
9/15/88
9 /15/88
A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY
REQUESTING THE AMENDMENT AND EXTENSION OF AS 43.75.032
WHICH AUTHORIZES STATE FISHERIES BUSINESS TAX CREDITS
TO FISH PROCESSORS
WHEREAS, AS 43.75.032 enables an onshore fish processor to
receive a State Fisheries Business Tax Credit for capital improvements to the
fish processing plant; and
WHEREAS, this credit has assisted many onshore fish processors in
Southwest Alaska to upgrade and expand processing facilities, which has
assisted long -term economic development of the region and the state; and
WHEREAS, the initial legislation authorized the tax credits for only
a three year period and expires on January 1, 1992; and
WHEREAS, legislation was introduced in 1988 to extend the credit to
a five year period and the expiration date an additional two years, but this
legislation was not adopted; and
WHEREAS, the municipalities in Southwest Alaska believe the tax
credit program has resulted in economic development in their community and
that extending the credit would better enable the onshore fish processing
industry to capitalize on the increase in bottomfish and other fisheries
development;
NOW, THEREFORE, BE IT RESOLVED that the Kodiak Island Borough
Assembly requests that the State Fisheries Business Tax Credit authorized in
AS 43.75.032 allows credits for a period of five years and that the expiration
date be extended an additional two years.
"Tiding Officer