(a) The commissioner shall, not later than July 1 before the first regular session of each legislature, submit a report to the chair of the finance committee of each house of the legislature and to the legislative finance division that states, for each indirect expenditure made by the state,

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Terms Used In Alaska Statutes 43.05.095

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
  • Statute: A law passed by a legislature.
(1) the name of the indirect expenditure;
(2) a brief description of the indirect expenditure;
(3) the statutory authority for the indirect expenditure;
(4) the date the statute authorizing the indirect expenditure is to be repealed, if applicable;
(5) the intent of the legislature in enacting the statute authorizing the indirect expenditure;
(6) the public purpose served by the indirect expenditure;
(7) the estimated annual effect on revenue of the indirect expenditure for the previous five fiscal years, excluding the fiscal year immediately preceding the date the report is due;
(8) the estimated cost to administer the indirect expenditure, if applicable;
(9) the number of beneficiaries of the indirect expenditure.
(b) For purposes of (a) of this section, federal tax credits adopted under Alaska Stat. § 43.20.021 shall be reported in the aggregate.
(c) A department, agency, or public corporation of the state shall, upon the request of the commissioner, provide the records, reports, data analysis, or other information necessary for the commissioner to complete the report required by this section. The commissioner may enter into a confidentiality agreement if necessary to obtain information or a record required to prepare the report under this section.
(d) In this section, “indirect expenditure” means an express provision of state law that results in foregone revenue for the state by providing

(1) a tax credit or other credit;
(2) an exemption, but does not include federal tax exemptions adopted by reference in Alaska Stat. § 43.20.021;
(3) a discount;
(4) a deduction, but does not include costs incurred in the ordinary course of business that are deducted in the calculation of a tax under this title or in the calculation of a royalty or net profit share payment for a lease issued under Alaska Stat. Title 38;
(5) a differential allowance.
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