HB407 Summary

• Amends Section 11-92C-8 of the Alabama Code to authorize local redevelopment authorities to require payments in lieu of taxes, including transient occupancy taxes, administered parallel to state taxes on ad valorem, sales, and use taxes.

• Grants authorities power to enforce payments in lieu of taxes with the same rights and remedies as tax assessors and tax collectors within the state.

• Requires local redevelopment authorities to annually report payments received from payments in lieu of taxes to the Department of Revenue under rules established by the department.

• Mandates the Department of Revenue to compile and publish a summary of reported payments each year on its website.

• Effective date: October 1, 2025.