00                       CS FOR HOUSE BILL NO. 241(STA)                                                                    
01 "An Act relating to optional exemptions from municipal property taxes on residential                                    
02 property."                                                                                                              
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 29.45.050(a) is amended to read:                                                                  
05            (a)  A municipality may exclude or exempt or partially exempt residential                                    
06       property from taxation by ordinance ratified by the voters at an election.  An                                
07       exclusion or exemption authorized by this subsection may be applied with respect                              
08       to taxes levied in a service area to fund the special services.  An exclusion or                              
09       exemption authorized by this subsection [SECTION] may not exceed the assessed                                 
10       value of $50,000 [$10,000] for any one residence.                                                             
11    * Sec. 2.  AS 29.45.050 is amended by adding a new subsection to read:                                             
12            (s)  A municipality may by ordinance designate an area within its boundaries                                 
13       as a high crime area and exempt from taxation an amount not to exceed $10,000 of the                              
14       assessed value of real property within the area that is owned and occupied as a                                   
01       permanent place of abode by a law enforcement officer.  The ordinance must include a                              
02       definition of "law enforcement officer."  A municipality that adopts an ordinance                                 
03       under this subsection may not request state funds to cover any municipal budget                                   
04       shortfall caused by the ordinance.