Gov. Mike Dunleavy vetoed a bill on Monday that would alter part of the state’s corporate tax code, generating funds from businesses operated out of state to pay for reading and career and technical programs in public schools.

Dunleavy cited in a letter to Senate leadership the state’s fiscal condition as the reason for the veto.

“A truly durable fiscal plan must include not only revenues but also clear guardrails: spending limits, statutory and regulatory reviews, and policies that make Alaska the most competitive state in the nation for investment and new business growth,” he wrote.

“This bill is a simple tax bill that does not consider the comprehensive fiscal approach outlined above,” Dunleavy continued.

Senate Bill 113 required internet based companies to pay corporate income tax

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