An Act relating to the sharing of tax revenue from the fisheries business tax and fishery resource landing tax with municipalities; relating to municipal reports on the shared tax revenue; and providing for an effective date.

This bill was amended to change its committee assignment from the Senate Rules Committee to the Senate Resources Committee and to add a conditional requirement that municipalities must operate harbor facilities to receive revenue distribution. The bill also updated the distribution percentages for tax revenue from the fisheries business tax, increasing allocations to unified municipalities and cities in unorganized boroughs from 50% to 60%, while decreasing allocations to cities within boroughs and boroughs themselves from 35% to 25% and 60% to 50% respectively. These changes affect how fishing industry tax revenue is shared among different types of municipalities in Alaska.