HB306 Summary

• Authorizes the City of Athens, Alabama to increase the maximum rate of special ad valorem tax from $0.50 per $100 of assessed value (5 mils) to $1.20 per $100 of assessed value (12 mils) under Constitutional Amendment 8.

• The tax increase requires approval by a majority of qualified electors voting in a special election called for that purpose.

• The city council must adopt a resolution and hold a public hearing before implementing the increased tax rate under Section 217 of the Alabama Constitution.

• The bill becomes effective immediately upon passage and approval by the Governor.

• Act originated in House on April 2, 2015 and passed Senate on May 5, 2015.