HB164 Alabama 2013 Session

Updated Jul 24, 2021

House Bill

Expired

Current Status

Regular Session 2013

Session

1

Sponsor

Summary

Primary Sponsor: Mike Ball
Republican
Session: Regular Session 2013
Title: Economic Development, tax increment districts, municipalities authorized to form, Major 21st Century Manufacturing Zone Act for certain manufacturing purposes, improvements funded through tax increment financing, Secs. 11-99-1, 11-99-2, 11-99-4, 11-99-5, 11-99-6, 11-99-8 am'd.
Description: Existing law provides for the creation of tax increment districts by counties and municipalities as a means of developing blighted and economically distressed areas. Existing law provides that development projects that locate in the district receive certain tax incentives.
This bill would authorize a municipality to designate certain real property as a Major 21st Century Manufacturing Zone. This bill would provide requirements to qualify as a zone and provide that projects within the zone could be financed with ad valorem tax increments.
This bill would provide that property within the zone would be developed for certain manufacturing purposes and would provide incentives for certain manufacturing projects that commit to develop or expand within the zone.
Subjects: Economic Development