SB 175: "An Act relating to a municipal air quality improvement tax credit; and relating to a municipal energy efficient new construction tax credit."
00 SENATE BILL NO. 175 01 "An Act relating to a municipal air quality improvement tax credit; and relating to a 02 municipal energy efficient new construction tax credit." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 29.45 is amended by adding a new section to read: 05 Sec. 29.45.047. Air quality improvement tax credit. A municipality that 06 includes within its boundaries an area that fails to meet federal or state air quality 07 standards for fine particles that are less than or equal to 2.5 micrometers in diameter 08 may, by ordinance, provide for an air quality improvement tax credit to offset a 09 portion of the property taxes due on property that, during the immediately preceding 10 tax year, has been improved in a way that aids in improving the air quality in the 11 municipality. The municipality shall establish eligibility requirements, conditions, and 12 other criteria for the credit in the ordinance adopted under this section. 13 * Sec. 2. AS 29.45 is amended by adding a new section to read: 14 Sec. 29.45.049. Energy efficient new construction tax credit. A municipality
01 may by ordinance provide for an energy efficient new construction tax credit to offset 02 a portion of the property taxes due on a residential or commercial real property that, 03 during the immediately preceding tax year, was improved with energy efficient new 04 construction. The municipality shall establish eligibility requirements, conditions, and 05 other criteria for the credit in the ordinance adopted under this section.