SB 176: "An Act relating to the municipal tax exemption for inventories intended for export."
00SENATE BILL NO. 176 01 "An Act relating to the municipal tax exemption for inventories intended for 02 export." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 29.45.050(n) is amended to read: 05 (n) A municipality may by ordinance classify as to type inventories intended 06 for export outside the state and partially or totally exempt all or some types of those 07 inventories from taxation. [A MUNICIPALITY THAT IS A SCHOOL DISTRICT 08 MAY, UNDER THIS SUBSECTION, ONLY EXEMPT ALL OR A PORTION OF 09 THE AMOUNT OF TAXES THAT EXCEEDS THE AMOUNT LEVIED ON OTHER 10 PROPERTY FOR THE SCHOOL DISTRICT. A MUNICIPALITY MAY ADOPT AN 11 ORDINANCE UNDER THIS SUBSECTION ONLY IF, BEFORE IT IS ADOPTED, 12 COPIES OF THE PROPOSED ORDINANCE MADE AVAILABLE AT A PUBLIC 13 HEARING ON IT CONTAIN WRITTEN NOTICE THAT THE ORDINANCE, IF 14 ADOPTED, MAY BE REPEALED BY THE VOTERS THROUGH REFERENDUM.]
01 The ordinance may provide for different levels of exemption for different 02 classifications of inventories. An ordinance adopted under this subsection must include 03 specific eligibility requirements and require a written application for each exemption.