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