A Resolution of the City Council of Homer, Alaska, Expressing Support for House Bill 184 Relating to the Sharing of Tax Revenue from the Fisheries Business Tax and Fishery Resource Landing Tax with Municipalities; and Providing for an Effective Date. City Manager.
CITY OF HOMER
A RESOLUTION OF THE CITY COUNCIL OF HOMER, ALASKA, EXPRESSING SUPPORT FOR HOUSE BILL 184 RELATING TO THE SHARING OF TAX REVENUE FROM THE FISHERIES BUSINESS TAX AND FISHERY RESOURCE LANDING TAX WITH MUNICIPALITIES; AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, Currently 50% of funds generated by the Fisheries Business Tax and Fisheries Landing Tax on fish processed inside the City are divided equally between the state and municipality; and
WHEREAS, Under HB 184 the funds generated by the Fisheries Business Tax and Fisheries Resource Landing Tax on fish landed inside a city are divided 75% to the municipality and 25% to the state; and
WHEREAS, Increasing the fisheries related tax revenue that is shared with municipalities who generate the revenue more accurately covers the cost of building and maintaining the infrastructure utilized in generating the tax; and
WHEREAS, HB 184 directs the Fisheries Business Tax revenue on fish that are sold to a buyer in the municipality but sent out of state unprocessed back to the incorporated port where the fish were landed and where the revenue was generated; and
WHEREAS, HB 184 reflects the changing nature of fisheries where more high value product is being shipped outside the state fresh and unprocessed; and
WHEREAS, HB 184 directs municipalities to use the additional revenue distributed under the Act to help maintain and improve their harbor facilities and report to the legislature annually on how funds were used.
NOW, THEREFORE, BE IT RESOLVED that the City of Homer supports House Bill 184 to increase the share of tax revenue generated from the Fisheries Business Tax and Fishery Resource Landing Tax to municipalities and providing for an effective date.
PASSED AND ADOPTED by the Homer City Council on this 13th day of February, 2012.
CITY OF HOMER
_____________________________ JAMES C. HORNADAY, MAYOR
JO JOHNSON, CMC, CITY CLERK
Fiscal Note: N/A