00                HOUSE CS FOR CS FOR SENATE BILL NO. 77(RLS)                                                             
01 "An Act relating to municipal property tax; and providing for an effective date."                                       
02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
03    * Section 1. AS 29.45.050(m) is amended to read:                                                                   
04 (m)  A municipality may by ordinance partially or totally exempt all or some                                            
05 types of economic development property from taxation for a designated period.                                           
06 [EXCEPT AS OTHERWISE PROVIDED BY AN ORDINANCE ENACTED BY                                                                
07 THE MUNICIPALITY BEFORE JANUARY 1, 2017, A MUNICIPALITY THAT IS                                                         
08 A SCHOOL DISTRICT MAY ONLY EXEMPT ALL OR A PORTION OF THE                                                               
09 AMOUNT OF TAXES THAT EXCEEDS THE AMOUNT LEVIED ON OTHER                                                                 
10 PROPERTY FOR THE SCHOOL DISTRICT'S REQUIRED LOCAL                                                                       
11 CONTRIBUTION UNDER AS 14.17.410(b)(2).] A municipality may by ordinance                                                 
12 permit deferral of payment of taxes on all or some types of economic development                                        
13 property for a designated period. A municipality may apply an exemption or deferral                                     
14 under this subsection to taxes levied for special services in a service area that is                                    
15 supervised by an elected service area board under AS 29.35.460 unless the elected                                       
16 service area board objects to the exemption or deferral by resolution adopted not later                                 

01 than 60 days after the effective date of the municipal ordinance enacting the tax                                       
02 exemption or deferral. A municipality may adopt an ordinance under this subsection                                      
03 only if, before it is adopted, copies of the proposed ordinance made available at a                                     
04 public hearing on it contain written notice that the ordinance, if adopted, may be                                      
05 repealed by the voters through referendum. An ordinance adopted under this                                              
06 subsection must include specific eligibility requirements and require a written                                         
07       application for each exemption or deferral.                                                                       
08    * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).