HB130 Summary

• Authorizes the Town of Triana in Madison County to increase its general ad valorem tax by an additional 12 mills ($1.20 per $100 of assessed value) exclusively for public educational purposes.

• Tax increase requires approval by majority vote of qualified electors in the Town of Triana at a special election held pursuant to Amendment No. 373 of the Alabama Constitution.

• Tax increase is contingent on the City of Madison simultaneously approving an identical 12 mill ad valorem tax increase for educational purposes at a special election held at the same time.

• Tax increase may become effective beginning with the levy for the tax year starting October 1, 2019, with taxes due and payable on October 1, 2020.

• Act becomes effective immediately upon passage and gubernatorial approval.