HB 169 Summary

• Amends Section 40-9B-5 of the Code of Alabama 1975 to modify requirements for tax abatements on private use industrial property for economic development purposes.

• Requires that a municipality or municipal public industrial authority may only abate county taxes if the municipality has also abated the corresponding municipal tax.

• Limits county tax abatements to the same rate of taxation as the corresponding municipal tax abatement, preventing higher county tax relief than municipal tax relief.

• Applies the same dual requirements (corresponding municipal tax abated and matching abatement rates) to municipal public industrial authorities seeking to abate county taxes.

• Becomes effective immediately upon passage and approval by the Governor.