00                           SENATE BILL NO. 136                                                                          
01 "An Act increasing an optional exclusion or exemption from municipal taxation for                                       
02 residential property."                                                                                                  
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 $50,000 [$10,000] for any one residence.