Modifying the property tax exemption for the value of new construction of industrial/manufacturing facilities in targeted urban areas.
Summary
Expands eligibility for the targeted urban area property tax exemption (TUA Exemption) to allow any city or town to utilize the program.
Expands eligible facilities for purposes of the TUA Exemption to include those facilities categorized with a transportation use.
Specifies certain labor specifications that must be given priority by a city when evaluating applications for a TUA Exemption.
Increases the average wage required for a family living wage job to $23 and requires that health care benefits be provided for purposes of the TUA Exemption.
Modifies several administrative provisions related to the TUA Exemption.
Extends, until December 30, 2030, the deadline to apply for a TUA Exemption.
From the Engrossed House Bill Report (EHB 1386), written by the Legislature's nonpartisan staff. Read the full report ↗
AN ACT Relating to modifying the property tax exemption for the value of new construction of industrial/manufacturing facilities in targeted urban areas;