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AL HB173
Bill
Status
1/11/2018
Primary Sponsor
Danny Crawford
Click for details
AI Summary
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County governing bodies gain discretionary authority to abate all or a portion of rollback ad valorem taxes under Section 40-7-25.3 for property within their jurisdiction.
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Abatement eligibility requires the property be used for a qualifying project as defined in the Alabama Jobs Act with specified job creation requirements.
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Property must be located within an area anticipating at least $100,000,000 in capital expenditures for establishment, expansion, construction, equipping, development, or rehabilitation of the qualifying project.
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Municipal consent by resolution is required if the property is located within a municipality's corporate limits.
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Abatement agreements between the county and property owner/user must be filed with the Department of Revenue within 90 days and kept confidential unless the owner/user consents to disclosure.
Legislative Description
Ad valorem taxes, co. commission authorized to abate taxes for Class III property taxed at current use when converted to other taxable use for projects under Ala. Jobs Act, consent of municipality if in corporate limits, Sec. 40-7-25.4 added
Ad Valorem Tax
Last Action
Read for the first time and referred to the House of Representatives committee on Economic Development and Tourism
1/11/2018