00SENATE BILL NO. 176                                                                                                     
01 "An Act relating to the municipal tax exemption for inventories intended for                                            
02 export."                                                                                                                
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 29.45.050(n) is amended to read:                                                                    
05  (n)  A municipality may by ordinance classify as to type inventories intended                                         
06 for export outside the state and partially or totally exempt all or some types of those                                 
07 inventories from taxation.  [A MUNICIPALITY THAT IS A SCHOOL DISTRICT                                                   
08 MAY, UNDER THIS SUBSECTION, ONLY EXEMPT ALL OR A PORTION OF                                                             
09 THE AMOUNT OF TAXES THAT EXCEEDS THE AMOUNT LEVIED ON OTHER                                                             
10 PROPERTY FOR THE SCHOOL DISTRICT. A MUNICIPALITY MAY ADOPT AN                                                           
11 ORDINANCE UNDER THIS SUBSECTION ONLY IF, BEFORE IT IS ADOPTED,                                                          
12 COPIES OF THE PROPOSED ORDINANCE MADE AVAILABLE AT A PUBLIC                                                             
13 HEARING ON IT CONTAIN WRITTEN NOTICE THAT THE ORDINANCE, IF                                                             
14 ADOPTED, MAY BE REPEALED BY THE VOTERS THROUGH REFERENDUM.]                                                             

01 The ordinance may provide for different levels of exemption for different                                               
02 classifications of inventories. An ordinance adopted under this subsection must include                                 
03 specific eligibility requirements and require a written application for each exemption.