04/20/1993 08:50 AM Senate FIN

                                                                               
  CS FOR HOUSE BILL NO. 66(FIN) am:                                            
                                                                               
       An  Act relating to  an exemption from  and deferral of                 
       municipal   property   taxes   for    certain   primary                 
       residences, to  property tax  equivalency payments  for                 
       certain residents,  to  the determination  of full  and                 
       true value of  taxable property in a  municipality; and                 
       providing for an effective date.                                        
                                                                               
  Co-chair Frank outlined  the changes  in CSHB  66(FIN).   He                 
  said that it would grant the authority to the municipalities                 
  to remove this  exemption from the municipality taxes.   Co-                 
  chair Frank MOVED for adoption of work draft "I" dated April                 
  20, 1993.   Senator Kelly  OBJECTED.  In  answer to  Senator                 
  Kelly, Co-chair Frank said that  the municipality would have                 
  the  option  of  giving   disabled  veterans  an  exemption.                 
  Senator Kelly  voiced his support  of the state  funding the                 
  exemption for disabled veterans.                                             
                                                                               
  Senator  Sharp  said that  the amount  on  page 3,  line 20,                 
  should read "up to $150,000."  RICK SOLEY, staff for Senator                 
  Frank,  said  that  it  was  his  understanding  from  legal                 
  services that the  municipalities would have the  ability to                 
  modify the  exempted amount  by ordinance.   Co-chair  Frank                 
  asked  for  a  memo  from  legal  services  explaining  this                 
  section.                                                                     
                                                                               
  Co-chair Pearce announced that CSHB 66(FIN) would be HELD in                 
  committee until April 21, 1993.                                              
                                                                               
                                                                               
                         Recess 10:59am                                        
                        Reconvene 11:00am