CSHB 156 Summary

• Extends the mandatory property tax exemption for Alaska Industrial Development and Export Authority assets from the scheduled 2017 expiration to November 30, 2027, for shipyards and integrated transportation and port facilities placed in service before January 1, 1999.

• Allows operating agreements (in addition to nonexclusive use agreements) between the authority and shipyard operators to be taxable only for improvements used for lodging purposes rather than the entire property interest.

• Modifies economic development property tax exemption and deferral provisions to allow municipalities discretion in designation periods instead of limiting them to five years, except school districts may only exempt taxes exceeding their required local contribution.

• Prohibits municipalities from applying exemptions or deferrals to taxes levied for special services in supervised service areas.

• Instructs that amendments to AS 29.45.030(a)(1) regarding private leaseholds will not be retained, but amendments to AS 29.45.030(a)(8) regarding military housing privatization will be retained.