Section 43.05.095. Indirect expenditure report.

   (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,
        (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        (4) the date the statute authorizing the indirect expenditure is to be repealed, if applicable;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 AS 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 AS 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 AS 38;
        (5) a differential allowance.

Authorities

24.20.231;24.20.235

Notes

References

AS 24.20.231 Duties.
AS 24.20.235 Indirect expenditure report.

History

(Sec. 11 ch 61 SLA 2014)