00SPONSOR SUBSTITUTE FOR HOUSE BILL NO. 263                                                                               
01 "An Act relating to municipal property tax exemptions."                                                                 
02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
03    * Section 1.  AS 29.45.050(b) is amended to read:                                                                    
04  (b)  A municipality may by ordinance                                                                                  
05   (1)  classify boats and vessels for the purposes of taxation and may                                                 
06 establish the assessed valuation of boats and vessels on the basis of their registered or                               
07 certificated net tonnage;                                                                                               
08   (2)  classify and exempt from taxation                                                                               
09   (A)  the property of an organization not organized for business                                                     
10 or profit-making purposes and used exclusively for community purposes if the                                            
11 income derived from rental of that property does not exceed the actual cost to                                          
12 the owner of the use by the renter;                                                                                     
13   (B)  historic sites, buildings, and monuments;                                                                      
14   (C)  land of a nonprofit organization used for agricultural                                                         

01 purposes if rights to subdivide the land are conveyed to the state and the                                              
02 conveyance includes a covenant restricting use of the land to agricultural                                              
03 purposes only; rights conveyed to the state under this subparagraph may be                                              
04 conveyed by the state only in accordance with AS 38.05.069(c);                                                          
05   (3)  exempt personal property from taxation;                                                                         
06   (4)  exempt business inventories from taxation;                                                                      
07   (5)  classify as to type and exempt or partially exempt any or all types                                             
08 of motor vehicles from taxation;                                                                                       
09   (6)  classify as to type and exempt or partially exempt any or all                                                   
10 types of aircraft from taxation;                                                                                        
11   (7)  exempt or partially exempt from taxation all boats and vessels                                                  
12 that are not documented under the laws of the United States;                                                            
13   (8)  exempt or partially exempt from taxation all pickup campers,                                                    
14 shells, and canopies;                                                                                                   
15   (9)  exempt or partially exempt from taxation all unlicensed                                                         
16 motorized all-terrain vehicles, snow machines, and trail bikes.