DIGEST OF HB1318 (Updated February 2, 2006 5:23 pm - DI 84)
Property tax abatement. Allows a designating body to grant a property tax abatement deduction to the owner of a building that is located in an economic revitalization area and has been vacant for at least one year, if the owner or a tenant of the owner occupies the building and uses the building for commercial or industrial purposes. Provides that the deduction may not be allowed for more than five years.
