Alaska governor proposes tax breaks to boost agriculture and timber industries | Homepage [Video]

Governor Mike Dunleavy wants to provide some tax relief for those in Alaska’s agriculture and timber industries.

Under the proposed legislation – HB 399 / SB 265 – certain businesses would be exempt from state and local income, property and sales tax for 10 years.

To qualify, they have to produce at least $25,000 worth of product in a year.

The governor says the goal is to help Alaska become more self-sufficient and not so reliant on imports.

“Alaska is too reliant on imports for both our food and building supplies,” said Governor Dunleavy. “Alaska has a vested interest in ensuring a robust agricultural and timber economy. Tax relief is a proven and responsible incentive to stimulate growth and will thereby help Alaska become more self-sufficient for food and lumber.”

Alaska House Bill 399 

Alaska Senate Bill 265