HomeMy WebLinkAboutResolution 2660 Providing for tax incentives for new or expanding industries: 6-29-87
~.
-
-
- . .
------- --
RESOLUTION NO. 2660
A RESOLUTION OF THE BOZEMAN, MONTANA CITY
COMMISSION APPROVING THE 15-24-1401 ET SEQ. MCA
TAX INCENTIVE PROGRAMS FOR NEW INDUSTRY OR
EXPANDING INDUSTRY, AND DEFINING THE IMPROVEMENTS
OR MODERNIZED PROCESSES QUALIFIED FOR SAID TAX
BENEFITS.
WHEREAS, a Public Hearing was held on the 29th day of June,
1987, for the purpose of determining whether or not the City of
Bozeman, Montana, should approve tax incentives set forth at
S15-24-1401 et seq. Montana Code Annotated (MCA) to new or
expanding industry as defined therein and if so, to define the
improvements or modernized processes that would qualify for said
tax incentives; and,
WHEREAS, the Bozeman City Commission recognizes the need for
encouraging responsible economic development within its
jurisdictional area; and
WHEREAS, 15-24-1402(1) MCA, as amended by House Bill 709 of
the 50th Legislative Session of the State of Montana, 1987,
authorizes local government to provide tax incentives to
qualifying improvements or modernized processes that represent
new industry or expansion of existing industry at the rate of
fifty per cent (50%) of their taxable value during their first
five (5 ) years following issuance of a construction permit, and
thereafter increasing taxes by equal percentages until full
taxable value is reached in the tenth (10th) year whereafter
property shall be taxed at one hundred per cent (100%) of its
taxable value; and,
WHEREAS, the City Commission desires to encourage reasonable
economic development by approving of the tax incentives as set
forth at 15-24-1402(1) MCA to support and promote industrial
improvements and processes that are clean and that maintain and
enhance the community's natural environment and other amenities
while broadening the economic opportunities available in the
area, improving the economic opportunities available in the area
and improving the economic stability of the community.
NOW, THEREFORE, BE IT RESOLVED by the Bozeman City
Commission that the tax incentive program as set forth at
15-24-1402(1) MCA is hereby approved for qualifying improvements
- --
-,_._--~ -..-------- - l'~_"'___. - --- ____n
".-.::'y
~ ...
~ ./
.,' ..
,
....
-!'
and modernized processes of new industry or expanding industry
within the jurisdictional limits of the City of Bozeman,
Montana.
BE IT FURTHER RESOLVED that the following definition shall
apply to the Tax Incentive Program approved hereby:
1) Expanding Industry: The City incorporates the
definition set forth at 15-24-1401(1) MCA.
2) New Industry: The City incorporates the definition set
forth at 15-24-1401(3) MCA.
3) Industry: The City of Bozeman incorporates the
definition set forth at 15-24-1401(2) MCA.
4) Qualifying: The City of Bozeman incorporates the
definition sets forth at 15-24-1401(4) MCA.
5) Qualified Improvements and Modernized Process: Tax
benefits may be granted for real property other than land,
personal property, improvements or combinations thereof including
but not limited to buildings, equipment, private streets, open
space, private utilities, and other site improvements that the
City Commission finds to be in the best interests of the
community. Tax benefits may also be granted for processing .
including research and development, processing of Montana raw
.
materials and other value-added products, development of
Montana-made products and other processes the City Commission
finds to be in the best interests of the community. Such
requests for tax benefits shall provide a comprehensive statement
addressing impact of the industrial improvement or process on the
community including the impact upon the environment, and the
handling, manufacture and disposal of toxic or other wastes.
PASSED AND ADOPTED by the City Commission of the City of
Bozeman this 29th day of June , 1987.
;-~.. -~ ttt fJ., iY7
~.J-{;I-~Q
JU~ITH A. MATHRE, Mayor
ATTEST:
~.J~
Clerk of the Commission
.
.
"
..
---.. ---- ---. .-- .._ .__u___
- .--- - .. . ---- --.-.