Bill > SB167

This bill amends the existing law in Alaska to change the property tax exemptions for certain types of properties. The key provisions are: 1. It changes the language for property used for "nonprofit religious, charitable, cemetery, hospital, or educational purposes" from being "exclusively" used for those purposes to being "primarily" used for those purposes. 2. It adds a new exemption for parking lots that are primarily used to serve real property that is otherwise exempt from property taxes. 3. It clarifies the conditions under which property that generates income can still be exempt from property taxes, such as when the income is from use by a nonprofit group or for fundraising. 4. It adds new provisions to exempt property that is under construction or reconstruction for exempt purposes, as well as property that is used for purposes directly incidental to the exempt use or for a nonexempt purpose for an insubstantial period of time. The overall effect of the bill is to broaden the types of properties that can qualify for municipal property tax exemptions in Alaska.

Government Affairs

https://www.akleg.gov/basis/Bill/Detail/33?Root=SB167