SB 175 Summary

• Allows municipalities with areas failing to meet federal or state air quality standards for fine particles (2.5 micrometers or less in diameter) to establish an air quality improvement tax credit by ordinance to offset property taxes on improved properties that aid air quality.

• Municipalities must establish eligibility requirements, conditions, and other criteria for the air quality improvement tax credit through local ordinance.

• Allows municipalities to provide an energy efficient new construction tax credit by ordinance to offset a portion of property taxes on residential or commercial real property that was improved with energy efficient new construction during the preceding tax year.

• Municipalities must establish eligibility requirements, conditions, and other criteria for the energy efficient new construction tax credit through local ordinance.