00HOUSE BILL NO. 342                                                                                                    
01 "An Act relating to optional exemptions for municipal property taxes for certain                                        
02 residences."                                                                                                            
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  AS 29.45.050(a) is amended to read:                                                                  
05  (a)  A municipality may exclude or exempt or partially exempt residential                                             
06 property from taxation by ordinance ratified by the voters at an election.  An exclusion                                
07 or exemption authorized by this  subsection  [SECTION] may not exceed the assessed                                    
08 value of $10,000 for any one residence.                                                                                 
09    * Sec. 2.  AS 29.45.050 is amended by adding a new subsection to read:                                             
10  (o)  A municipality may by ordinance exempt from taxation all or part of the                                          
11 assessed value of property occupied as a permanent place of abode by a resident who                                     
12 is the owner and who is                                                                                                 
13   (1)  a recipient of assistance under 42 U.S.C. 1381 - 1385 (Title XVI,                                               
14 Social Security Act Supplemental Income Program); or                                                                    

01   (2)  at least 60 years old and the widow or widower of an individual                                                 
02 who qualified for an exemption under (1) of this subsection.