1993-03-31                     House Journal                      Page 0887
HB 66                                                                        
Page 3, after line 1:                                                          
                                                                               
	Insert a new subsection to read:                                              
	"(b)  The state shall reimburse a municipality for one-half of               
the real property tax revenue lost to it as a result of an exemption           
granted under (a) of this section.  However, reimbursement may                 
be made only to the extent that the loss exceeds an exemption that             
was granted by the municipality, or that on proper application by              
an individual would have been granted, under AS 29.45.050(a),                  
and no reimbursement may be made for revenue lost as a result of               
an exemption granted for that portion of the assessed value of real            
property that exceeds $100,000.  If appropriations are not                     
sufficient to fully fund reimbursements under this subsection, the             
amount available shall be distributed pro rata among eligible                  
municipalities."                                                               
                                                                               
Reletter the following subsection accordingly.                                 
                                                                               
Page 4, line 4:                                                                
                                                                               
	Delete "29.45.040,"                                                           
                                                                               
                                                                               
Representative Willis moved and asked unanimous consent that                   
Amendment No. 5 be adopted.                                                    
                                                                               
                                                                               
Representative Bunde objected.                                                 
                                                                               
The question being:  "Shall Amendment No. 5 be adopted?"  The roll             
was taken with the following result:                                           
                                                                               
CSHB 66(FIN) am                                                                
Second Reading                                                                 
Amendment No. 5                                                                
                                                                               
YEAS:  16   NAYS:  24   EXCUSED:  0   ABSENT:  0                             
                                                                               
Yeas:  Brice, Brown, Carney, Davidson, Davies, B.Davis, Finkelstein,           
Grussendorf, Mackie, Menard, Navarre, Nicholia, Nordlund, Sitton,              
Williams, Willis