00                            HOUSE BILL NO. 121                                                                          
01 "An Act relating to a municipal property tax credit for an improvement that aids in                                     
02 improving air quality."                                                                                                 
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 29.45 is amended by adding a new section to read:                                                  
05            Sec. 29.45.048. Air quality improvement tax credit. A municipality may, by                                 
06       ordinance, provide for an air quality improvement tax credit to offset a portion of the                           
07       property taxes due on property that, during the immediately preceding tax year, has                               
08       been improved in a way that aids in improving the air quality in the municipality. The                            
09       amount of the credit shall be based on a percentage of the verifiable costs of the                                
10       improvement, and the credit may be granted for more than one year. The ordinance                                  
11       may limit the availability of a credit to some, but not all, types of improvements for                            
12       which a credit may be granted under this section and to property located in areas that                            
13       do not meet air quality standards required by federal or state law or regulation.                                 
14       Eligibility, conditions, and other criteria for the credit shall be established in the                            

01       ordinance adopted under this section.