HB 40: "An Act establishing a municipal tax exemption for certain farm structures."
00 HOUSE BILL NO. 40 01 "An Act establishing a municipal tax exemption for certain farm structures." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 29.45.050 is amended by adding new subsections to read: 04 (t) A municipality may by ordinance partially or totally exempt from taxation 05 a farm structure owned or leased by an individual who is actively engaged in farming 06 and who derives at least 10 percent of the individual's yearly gross income from 07 farming activity if at least 50 percent of the area of the structure is used for 08 (1) the storage or processing of 09 (A) grains, fruits, vegetables, or other crops produced by the 10 owner's or lessee's farming activity; 11 (B) feed for livestock, poultry, or other animals used in the 12 owner's or lessee's farming activity; 13 (C) milk or milk products produced by the owner's or lessee's 14 farming activity; or 15 (2) stabling or milking the owner's or lessee's dairy animals.
01 (u) In this section, "farming activity" means raising and harvesting crops; 02 feeding, breeding, and managing livestock; dairying; or any combination of those 03 activities.