00                            SENATE BILL NO. 193                                                                         
01 "An Act relating to an optional deferral of municipal property taxes on certain primary                                 
02 residences owned and occupied by individuals with incomes at or below federal poverty                                   
03 guidelines for the state."                                                                                              
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1.  AS 29.45 is amended by adding a new section to read:                                                 
06            Sec. 29.45.052.  Tax deferral for primary residences.  (a)  A municipality                                 
07       may by ordinance provide for the deferral of all taxes on property that is owned, in                              
08       whole or in part, by an individual                                                                                
09                 (1)  who occupies and has occupied the property for at least 10                                         
10       consecutive years as the individual's primary residence; and                                                      
11                 (2)  whose income is at or below federal poverty guidelines for the state                               
12       set by the United States Department of Health and Human Services.                                                 
13            (b)  An individual must apply for each year that a deferral is sought and supply                             
14       proof of eligibility for the deferral for that year in accordance with requirements set                           

01       out in the ordinance that authorizes the deferral.  Taxes for a year that are deferred do                         
02       not become payable until ownership of the property is transferred from the individual                             
03       who obtained the deferral.  A municipality that provides for a deferral of property                               
04       taxes under this subsection may not impose interest on the taxes deferred between the                             
05       time the deferral is granted and the time the taxes become payable.