CSHB 27(FIN): "An Act relating to an optional exemption from municipal property taxes on certain residences of law enforcement officers."

00 CS FOR HOUSE BILL NO. 27(FIN) 01 "An Act relating to an optional exemption from municipal property taxes on certain 02 residences of law enforcement officers." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 29.45.050 is amended by adding a new subsection to read: 05 (s) A municipality may by ordinance designate an area within its boundaries 06 that is an eligible area and exempt from taxation an amount not to exceed $150,000 of 07 the assessed value of an entire parcel of real property within the area if the property is 08 primarily residential, owned, in whole or part, by a law enforcement officer, and 09 occupied, in whole or part, as the primary permanent place of abode by the law 10 enforcement officer. If two or more individuals are eligible for an exemption for the 11 same property under this subsection, not more than two exemptions may be granted. 12 A municipality that adopts an ordinance under this subsection may not request state 13 funds to cover any loss of revenue to the municipality caused by the ordinance. The 14 ordinance must include a definition of "law enforcement officer." The ordinance must

01 also define "eligible area" to mean an area 02 (1) that meets the eligibility requirements under a federal program of 03 special assistance for urban development, neighborhood revitalization, or law 04 enforcement, without regard to whether an application for the federal assistance on 05 behalf of the area has been made or whether the area has actually received or is 06 receiving the federal assistance; 07 (2) with a statistically higher occurrence of crime than the municipality 08 as a whole; or 09 (3) that meets the requirements of (1) and (2) of this subsection.