NEWS: House Passes Bill to Allow a New Type of Corporation in Alaska

Juneau – Today, the Alaska House of Representatives approved legislation to allow benefit corporations to operate in Alaska. Benefit corporations are for profit organizations that incorporate public benefits and community improvements into their business model. House Bill 124, sponsored by Representative Sam Kito (D-Juneau), would bring Alaska’s corporate law in line with thirty-one other states that have passed benefit corporation legislation.

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NEWS: Democratic Lawmakers Call on the Alaska Aerospace Corporation to Return Unused State Money

Juneau – Today, Representatives Les Gara (D-Anchorage), David Guttenberg (D-Fairbanks), and Andy Josephson (D-Anchorage) issued a call for the state run Alaska Aerospace Corporation to return most of the remaining funds left unspent from the roughly $98 million in state general funds appropriated since 2009.

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NEWS: Legislation Seeks Corporate Shareholder Approval for Spending to Influence Political Campaigns in Alaska

Juneau – Today, Representative Andy Josephson (D-Anchorage) formally introduced legislation requiring corporations in Alaska to get an affirmative vote from a majority of shareholders before spending corporate money on political campaigns or issues.  Rep. Josephson confirms that House Bill 343 is in direct response to the 2010 Citizens United decision by the U.S. Supreme Court allowing corporations to spend unlimited amounts of money on elections to support or defeat candidates or issues.

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Note from Rep. Gara: Closing Gaping Corporate Tax Loophole

Today I submitted legislation to close a gaping loophole in Alaska’s corporate tax. My press release on this bill follows.
If we are to close a nearly $4 billion budget gap, the revenue we seek needs to be balanced. It can’t disproportionately hit those who have little when we have tax loopholes that benefit those who have the most.

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NEWS: It’s Time to Close Corporate Tax Loophole in Alaska

Juneau — Alaska has a corporate tax, but over 5,000 corporations are exempt under current Alaska law, despite the fact that many of the corporations are highly profitable. Today, Representative Les Gara (D-Anchorage) filed legislation to close the loophole, which he contends the state can no longer afford due to a nearly $4 billion budget deficit. Rep. Gara believes closing Alaska’s corporate tax loophole should be part of a balanced fiscal plan that is fair for all Alaskans.

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