Alaska 34th Alaska State Legislature Status: In Committee 2 D cosponsors

HB 350 — An Act establishing an income tax on certain entities in the state; and providing for an effective date.

Last action — (H) REFERRED TO FINANCE

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced February 23, 2026. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 18% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 2 sponsors

    1 primary, 1 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 D).

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

32 added · 12 removed

Plain-language change summary

The amendment to HB 350 changes the effective date for a specific tax year from beginning on or after January 1, 2027, to starting on or after January 1, 2026. Additionally, it introduces a provision that allows individuals subject to tax before the law's effective date to pay their dues by January 1, 2027, without incurring interest or penalties until that deadline. This matters because it provides taxpayers with additional time to comply with new tax regulations, potentially alleviating financial pressure during the transition period.

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34-LS1474\H CS FOR HOUSE BILL NO.
34-LS1474\I HOUSE BILL NO.
350(L&C) IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-FOURTH LEGISLATURE - SECOND SESSION BY THE HOUSE LABOR AND COMMERCE COMMITTEE Referred:
350 IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-FOURTH LEGISLATURE - SECOND SESSION BY REPRESENTATIVES FIELDS, Hall Introduced:
Finance Sponsor(s):
2/23/26 Referred:
REPRESENTATIVES FIELDS, Hall A BILL FOR AN ACT ENTITLED "An Act establishing an income tax on certain entities in the state;
Labor and Commerce, Finance A BILL FOR AN ACT ENTITLED "An Act establishing an income tax on certain entities in the state;
(2) notwithstanding AS 43.20.021 and AS 43.20.036, the taxpayer may not apply as a credit or deduction against tax liability a credit or deduction allowed as HB0350b -1- CSHB 350(L&C) New Text Underlined [DELETED TEXT BRACKETED] 34-LS1474\H to federal taxes under 26 U.S.C.
(2) notwithstanding AS 43.20.021 and AS 43.20.036, the taxpayer may not apply as a credit or deduction against tax liability a credit or deduction allowed as HB0350a -1- HB 350 New Text Underlined [DELETED TEXT BRACKETED] 34-LS1474\I to federal taxes under 26 U.S.C.
(i) A taxpayer that [CORPORATION WHICH] is a member of a group of CSHB 350(L&C) -2- HB0350b New Text Underlined [DELETED TEXT BRACKETED] 34-LS1474\H unitary corporations or entities that [WHICH] collectively has income from business activity taxable both inside and outside the state, or income from other sources both inside and outside the state, shall determine its income from sources in this state by use of the combined method of accounting.
(i) A taxpayer that [CORPORATION WHICH] is a member of a group of HB 350 -2- HB0350a New Text Underlined [DELETED TEXT BRACKETED] 34-LS1474\I unitary corporations or entities that [WHICH] collectively has income from business activity taxable both inside and outside the state, or income from other sources both inside and outside the state, shall determine its income from sources in this state by use of the combined method of accounting.
This Act applies to a qualified entity with taxable income over $25,000,000 for a tax year beginning on or after January 1, 2027.
This Act applies to a qualified entity with taxable income over $25,000,000 for a tax year beginning on or after January 1, 2026.
The uncodified law of the State of Alaska is amended by adding a new section to read:
TRANSITION:
PAYMENT OF TAX.
A person subject to tax before the effective date of this Act under AS 43.20.019, added by sec.
1 of this Act, shall pay the balance of the tax due for a tax year ending before January 1, 2027, by January 1, 2027.
Until January 1, 2027, the Department of Revenue shall waive interest that would otherwise accrue under AS 43.05.225 and civil and criminal penalties accruing under AS 43.05.220, 43.05.245, and 43.05.290 that are a result of the retroactivity of this Act.
* Sec.
8.
The uncodified law of the State of Alaska is amended by adding a new section to read:
RETROACTIVITY OF REGULATIONS.
Notwithstanding a contrary provision of AS 44.62.240, if the Department of Revenue expressly designates in the regulation that the HB0350a -3- HB 350 New Text Underlined [DELETED TEXT BRACKETED] 34-LS1474\I regulation applies retroactively to a specific date, a regulation adopted by the department to implement, interpret, make specific, or otherwise carry out this Act applies retroactively to that date.
* Sec.
9.
The uncodified law of the State of Alaska is amended by adding a new section to read:
RETROACTIVITY.
This Act is retroactive to January 1, 2026.
* Sec.
10.
HB0350b -3- CSHB 350(L&C) New Text Underlined [DELETED TEXT BRACKETED]
HB 350 -4- HB0350a New Text Underlined [DELETED TEXT BRACKETED]
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Action History

  1. (H) REFERRED TO FINANCE

  2. (H) FN1: (REV)

  3. (H) NR: FRIER

  4. (H) DNP: COULOMBE, SADDLER

  5. (H) DP: CARRICK, HALL, FIELDS

  6. (H) L&C RPT CS(L&C) 3DP 2DNP 1NR

  7. (H) Moved CSHB 350(L&C) Out of Committee -- Delayed to 5 min. Following Session --

  8. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  9. (H) COSPONSOR(S): HALL

  10. (H) Heard & Held

  11. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  12. (H) Heard & Held

  13. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  14. (H) <Bill Hearing Canceled> -- Meeting Postponed from 3:15 pm 4/13/2026--

  15. (H) LABOR & COMMERCE at 08:00 AM BARNES 124

  16. (H) -- Public Testimony -- -- Meeting Postponed to 8:00 am 4/15/2026--

  17. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  18. (H) -- Public Testimony -- -- MEETING CANCELED --

  19. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  20. (H) Heard & Held

  21. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  22. (H) Heard & Held

  23. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  24. (H) L&C, FIN

  25. (H) READ THE FIRST TIME - REFERRALS

Sponsors

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 63 not signed on

Sponsors (1)

Co-sponsors (1)

Not signed on (63)

63 members have not signed on to this bill.

Show all 63 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HB 350?
HB 350 is sponsored by Carolyn Hall (D) and Zack Fields (D).
What is the current status of HB 350?
This bill is in committee in the House. Introduced February 23, 2026. It must pass committee before a floor vote.
Where can I track HB 350?
Track HB 350 free on One Click Politics — get push/email alerts when it moves.

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