Relating to taxation

ARTICLE 1 - PROPERTY TAX

Providing an additional $12,000 in city LGA in calendar year 2013 only to the city of Tamarack; setting the 2013 aid payments to cities with a population of 5,000 or more
to their 2012 aid amounts; setting the 2013 aid payments to cities with a
population under 5,000 to the greater of (1) their 2012 aid payment or (2) what
they would otherwise get in 2013 under current law; repaying 18 cities their 2011 LGA payments that were not paid due to the cities late filing of calendar year 2010 financial reports with the state auditor; requiring the payment to be made to each city on June 15, 2012, provided that the city has filed all required reports by May 31, 2012

ARTICLE 2 - ECONOMIC DEVELOPMENT PROVISIONS CLEANUP

Making technical and clarifying changes in enterprise zone and economic development powers; removing obsolete provisions; repealing international economic development zone exempt property and business exemptions, an income tax credit for job creation, tax increments equivalents original net tax capacity, tax increments and increment financing (TIF), the housing a redevelopment property tax exemption, port authorities tax increment, city development districts issuance of bonds and existing projects, municipal industrial development revenue anticipation notes for hospitals, enterprise zones definitions for HUD, Indian reservation, SMSA, employment property, market value, and legislative advisory commission, enterprise zones designation, eligibility requirements, selection, employment property tax classification, state tax reductions, and administration, the guarantee fund, the TIF special taxing district, school district abatement levy authority, enterprise zones definitions, designations, eligibility requirements, and application,
international economic development zones definitions, application, designation,
foreign trade zone authority powers, tax increments, individual income and
corporate franchise tax exemptions, jobs credit, and tax benefits repayment, and
the TIF district for heavy maintenance facility

ARTICLE 3 - MISCELLANEOUS

Transferring a certain balance in the revenue department service and recovery special fund revenue fund to the general fund in fiscal year 2012
(ra)