00                      CS FOR HOUSE BILL NO. 121(FIN)                                                                    
01 "An Act relating to and authorizing certain municipalities to provide a property tax                                    
02 credit for an improvement that aids in 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 that                                    
06       includes within its boundaries an area that fails to meet federal or state air quality                            
07       standards for fine particles that are less than or equal to 2.5 micrometers in diameter                           
08       may, by ordinance, provide for an air quality improvement tax credit to offset a                                  
09       portion of the property taxes due on property that, during the immediately preceding                              
10       tax year, has been improved in a way that aids in improving the air quality in the                                
11       municipality. The municipality shall establish eligibility, conditions, and other criteria                        
12       for the credit in the ordinance adopted under this section.                                                       
13    * Sec. 2. AS 29.45.048 is repealed on January 1, 2016.