The final order  of business was SB  102 (MUNICIPAL PROPERTY                 
  TAX EXEMPTIONS).   There was  a committee substitute  before                 
  the committee which includes three changes:  (1)  it exempts                 
  the   optional   taxes  from   the   full  and   true  value                 
  determination by  DCRA in the education  foundation formula;                 
  (2) it changes  the effective date  from January 1, 1993  to                 
  January  1, 1994; and (3) it  retains the mandatory property                 
  tax exemption and renters rebate for disabled veterans.                      
                                                                               
  Number 555                                                                   
                                                                               
  SENATOR ZHAROFF  asked why  the effective  date was  changed                 
  SHIRLEY ARMSTRONG, staff to Senator Phillips, explained that                 
  their office  had been  contacted by  several people  asking                 
  that the effective date not occur this year.  The department                 
  has said  that it  wouldn't affect  tax assessments  because                 
  they couldn't  gear up  fast enough to  deny the  exemption.                 
  She said the  department did suggest  July 1, 1993,  because                 
  that assures that they couldn't  deny the exemption for this                 
  year.                                                                        
                                                                               
  Speaking to  the first  change in  the committee  substitute                 
  whereby it exempts the optional taxes from the full and true                 
  value determination,  SENATOR TAYLOR  said the  modification                 
  makes certain  that if  the municipalities  chose to  exempt                 
  those properties they would still be exempted under DCRA.                    
                                                                               
                                                                               
  CHAIRMAN  RANDY  PHILLIPS  explained  the  third   amendment                 
  eliminates the disabled veterans to both the home owners tax                 
  exemption as well  as the renters  rebate, which amounts  to                 
  approximately $230,0000.                                                     
                                                                               
  TAPE 93-12, SIDE B                                                           
                                                                               
  Number 001                                                                   
                                                                               
  CHAIRMAN  RANDY  PHILLIPS  asked  for  the pleasure  of  the                 
  committee.                                                                   
                                                                               
  SENATOR  TAYLOR  moved  that  CSSB  102  (CRA)  be  adopted.                 
  Hearing no objection, the motion carried.                                    
                                                                               
  SENATOR TAYLOR moved  that CSSB 102  (CRA) be passed out  of                 
  committee  with  individual  recommendations.    Hearing  no                 
  objection, it was so ordered.