SB169 Summary

• Reenacts Section 40-9-34 of Alabama Code retroactively to October 1, 2008, to clarify that the Hudson-Alpha Institute for Biotechnology tax exemption was not affected by Act 2009-144.

• Exempts the Hudson-Alpha Institute for Biotechnology (a nonprofit corporation) and all its real and personal property from state, county, and municipal taxes, licenses, fees, and charges, including privilege and excise taxes.

• Requires the Hudson-Alpha Institute to report annually to the State Board of Education detailing biotechnology curriculum content for the distance learning program and new developments in biotechnology for high school science and health courses.

• Conditions the tax exemption on meeting specified investment and employment thresholds by September 30, 2008: at least $50 million in property and equipment, at least 100 employees, and for-profit companies making at least $5 million in property improvements on the institute's property.

• For-profit entities leasing or owning property on the institute's campus remain subject to sales, use, ad valorem, and property taxes; for-profit entities cannot claim exemptions directly or indirectly.