HCS CSSB 183(CRA) am H: "An Act relating to municipal property taxation in annexed and detached areas; and authorizing certain boroughs to use revenue collected on an areawide or nonareawide basis for economic development; and providing for an effective date."
00 HOUSE CS FOR CS FOR SENATE BILL NO. 183(CRA) am H 01 "An Act relating to municipal property taxation in annexed and detached areas; and 02 authorizing certain boroughs to use revenue collected on an areawide or nonareawide 03 basis for economic development; and providing for an effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 29.06. is amended by adding a new section to read: 06 Sec. 29.06.055. Property taxes in annexed or detached areas. (a) Unless 07 the annexation takes effect on January 1, the municipality may not assess, levy, or 08 collect property taxes in an annexed area before January 1 of the year immediately 09 following the year in which the annexation takes effect. 10 (b) If an area is detached from a municipality, all property taxes that are levied 11 by that municipality on property in the detached area based on an assessment that 12 occurred before the effective date of the detachment remain valid. AS 29.45.290 - 13 29.45.500 apply to the enforcement of those taxes. 14 * Sec. 2. AS 29.35.110 is amended by adding a new subsection to read:
01 (c) Notwithstanding (a) of this section, a borough that has entered into an 02 agreement with a city located in the borough to cooperatively or jointly provide for 03 economic development may use borough revenue from taxes, whether collected on an 04 areawide or nonareawide basis, to carry out the terms of the agreement. 05 * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).