HB 232 Summary

• Authorizes municipalities to establish an air quality improvement tax credit by ordinance to offset property taxes on real property improvements made in the preceding tax year, including new construction, refurbishments, remodels, and renovations that improve air quality.

• Authorizes municipalities to establish an energy efficient construction tax credit by ordinance to offset property taxes on real property improvements made in the preceding tax year, including energy efficient new construction, refurbishments, remodels, and renovations.

• Both tax credits may be structured as single or multiple year programs and require municipalities to establish eligibility criteria through ordinance.

• Credits apply to improvements made before the municipality's initial approval of the tax credit program.