AK HB370

Amends military facility zone designation criteria to require the adjutant general to consider consistency with municipal comprehensive plans or local zoning ordinances before designation.

Extends municipal tax exemption period for economic development property from 5 years to 30 years.

Extends municipal tax deferral period for economic development property from 5 years to 30 years.

Removes provisions allowing municipalities to renew tax exemptions and deferrals, and adds requirement that service area boards or assemblies must evaluate effects on special services before applying exemptions or deferrals to service area taxes.

Restructures economic development property eligibility criteria to distinguish between property not previously used in the same trade or business elsewhere and property meeting specific economic development criteria such as job creation, outside sales generation, or significant capital infrastructure investment.