00                    SENATE CS FOR HOUSE BILL NO. 217(FIN)                                                                
01 "An Act relating to the determination of full and true value of taxable municipal                                       
02 property for purposes of providing planning assistance to the Department of Education                                   
03 and Early Development and the legislature, calculating funding for education,                                           
04 calculating school district participating shares for school construction grants, and                                    
05 calculating tax resource equalization payments and excluding from that determination                                    
06 the value of property in certain areas detached from a municipality and the value of                                    
07 certain property involved with oil and gas that is not taxed by a municipality."                                        
08 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
09    * Section 1. AS 14.17.510(a) is amended to read:                                                                   
10            (a)  To determine the amount of required local contribution under                                            
11       AS 14.17.410(b)(2) and to aid the department and the legislature in planning, the                                 
12       Department of Commerce, Community, and Economic Development, in consultation                                      
13       with the assessor for each district in a city or borough, shall determine the full and true                       
01       value of the taxable real and personal property in each district in a city or borough. If                         
02       there is no local assessor or current local assessment for a city or borough school                               
03       district, then the Department of Commerce, Community, and Economic Development                                    
04       shall make the determination of full and true value [FROM INFORMATION                                             
05       AVAILABLE. IN MAKING THE DETERMINATION, THE DEPARTMENT OF                                                         
06       COMMERCE, COMMUNITY, AND ECONOMIC DEVELOPMENT SHALL BE]                                                           
07       guided by AS 29.45.110 and based on a determination of full and true value made                               
08       by the state assessor at least every two years using the best information available,                          
09       including on-site inspections made by the state assessor in each of those districts                           
10       at least once every four years. For purposes of this subsection, the full and true                            
11       value of taxable real and personal property in any area detached shall be                                     
12       excluded from the determination of the full and true value of the municipality                                
13       from which the property was detached for the two years immediately preceding                                  
14       the effective date of the detachment. Also, in making the determination for a                                 
15       municipality that is a school district, or for a city that is within a borough school                         
16       district, the assessed value of property taxable under AS 43.56 shall be excluded                             
17       if a tax is not levied under AS 29.45.080 by the municipality that is the school                              
18       district. The determination of full and true value shall be made by October 1 and sent                        
19       by certified mail, return receipt requested, on or before that date to the president of the                       
20       school board in each city or borough school district. Duplicate copies shall be sent to                           
21       the commissioner. The governing body of a city or borough that is a school district                               
22       may obtain judicial review of the determination. The superior court may modify the                                
23       determination of the Department of Commerce, Community, and Economic                                              
24       Development only upon a finding of abuse of discretion or upon a finding that there is                            
25       no substantial evidence to support the determination.