ADMINISTRATIVE ENTITY .
(4) Private sources.
(b) Revenue.--An administrative entity may receive and
retain payments for services rendered, for rents and leasehold
payments received, for consideration for disposition of real and
personal property, for proceeds of insurance coverage for losses
incurred, for income from investments and for an asset and
activity lawfully permitted to the authority ADMINISTRATIVE
ENTITY under this chapter.
§ 3115. Property tax exemption schedule of real property.
A municipality and school district shall have the power and
authority to grant property tax abatement, in the manner
provided in this section, to properties leased to a
microenterprise for one or more consecutive years, and owned by
an administrative entity:
(1) For the first, second and third years for which the
property would otherwise be taxable, and is continually
leased to the microenterprise, 100% of the eligible
assessment shall be exempted.
(2) For the fourth year for which the property would
otherwise be taxable, and is continually leased to the
microenterprise, 90% of the eligible assessment shall be
exempted.
(3) For the fifth year for which the property would
otherwise be taxable, and is continually leased to the
microenterprise, 75% of the eligible assessment shall be
exempted.
(4) For the sixth year for which the property would
otherwise be taxable, and is continually leased to the
microenterprise, 60% of the eligible assessment shall be
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