00 Enrolled HB 232                                                                                                         
01 Relating to a municipal air quality improvement tax credit; and relating to a municipal energy                          
02 efficient construction tax credit.                                                                                      
03                           _______________                                                                               
04    * Section 1. AS 29.45 is amended by adding a new section to read:                                                    
05 Sec. 29.45.047. Air quality improvement tax credit. A municipality may by                                               
06 ordinance provide for a single or multiple year air quality improvement tax credit to                                   
07 offset a portion of the property taxes due on real property improvements made during                                    
08 the immediately preceding tax year before the municipality's initial approval of the tax                                
09 credit, including new construction, refurbishments, remodels, and renovations that aid                                  
10       in improving the air quality in the municipality. The municipality shall establish                                
11       eligibility criteria for the credit in the ordinance adopted under this section.                                  
12    * Sec. 2. AS 29.45 is amended by adding a new section to read:                                                       
13            Sec. 29.45.049. Energy efficient construction tax credit. A municipality may                                 
14       by ordinance provide for a single or multiple year energy efficient construction tax                              
01 credit to offset a portion of the property taxes due on real property improvements                                      
02 made during the immediately preceding tax year before the municipality's initial                                        
03 approval of the tax credit, including energy efficient new construction, refurbishments,                                
04 remodels, and renovations. The municipality shall establish eligibility criteria for the                                
05       credit in the ordinance adopted under this section.