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SB130

Changes to the Fisheries Product Development Tax Credit

Last scannedOct 18, 2026, 12:32 AM

In one sentence

This law makes information about tax credit recipients public, limits how much of a taxpayer's bill can be covered by the credit, sets an end date for qualifying equipment purchases, and allows businesses to ask if their plans qualify before spending money.

What it does

  • Makes it required that the number of people getting the tax credit and the total money claimed is public information.
  • Limits the tax credit amount to no more than half of a taxpayer's bill for processing eligible fish in one year.
  • Stops taxpayers from claiming this credit for equipment first used after December 31, 2026.
  • Allows fisheries businesses to ask the department if their planned investment qualifies before they spend money.
  • Requires the department to give an answer on whether an investment qualifies within 60 days of receiving the request.

Who it affects

  • Fisheries businesses that process eligible fish or shellfish
  • The state department responsible for tax credits

Limits and unknowns

  • The law does not say how much money is available in total for these tax credits.
  • It is unclear if a business can claim this credit if they also get other state benefits, as that rule is not listed here.
  • The text lists specific equipment types but may not cover every possible tool used in fish processing.

Plain language

Terms to know

eligible fish
Any species of fish or shellfish.
qualified investment
Money spent to buy or change equipment used mostly for making ice, processing, packaging, or finishing value-added fish products.
used predominantly
Using the equipment 51 percent of the time or more.

Official record

Sources

Source checked
Official bill pageIntroduced textCurrent bill text
Read the official summary

FISHERIES PROD DEVELOPMENT TAX CREDIT An Act relating to the fisheries product development tax credit; providing for an effective date by amending the effective date of sec. 2, ch. 31, SLA 2022; and providing for an effective date.

Official activity

Bill history

  1. (S) EFFECTIVE DATE(S) OF LAW SEE CHAPTER3129
  2. (S) LAW W/O GOV SIGNATURE 6/25 CH 32 SLA 263129
  3. (S) 10:45 A.M. 6/8/26 TRANSMITTED TO GOVERNOR2991
  4. (H) VERSION: CSSB 130(FIN)2698
  5. (H) RETURN TO (S), TRANSMIT TO GOV NEXT2698
  6. (H) EFFECTIVE DATE(S) SAME AS PASSAGE2698
  7. (H) PASSED Y402698
  8. (H) READ THE THIRD TIME CSSB 130(FIN)2698
  9. (H) ADVANCED TO THIRD READING UC2698
  10. (H) READ THE SECOND TIME2697
  11. (H) RULES TO CALENDAR 5/17/20262697
  12. (H) FN3: INDETERMINATE(REV)2569
  13. (H) AM: ALLARD, MOORE2569
  14. (H) NR: TOMASZEWSKI, JOSEPHSON, FOSTER2569
  15. (H) DP: JIMMIE, GALVIN, HANNAN, STAPP, BYNUM, SCHRAGE2569
  16. (H) FIN RPT 6DP 3NR 2AM2569
  17. (H) Moved CSSB 130(FIN) Out of Committee -- Delayed to 2:00 pm --Text
  18. (H) FINANCE at 01:30 PM ADAMS 519Text
  19. (H) Scheduled but Not Heard -- Please Note Time Change --Text
  20. (H) FINANCE at 09:00 AM ADAMS 519Text