SB96 Alabama 2016 Session

Summary

Primary Sponsor

Dick Brewbaker

Republican

Session

Regular Session 2016

Title

Economic development, tax abatement by a municipality or municipal public authority, abatement of county taxes, corresponding municipal tax required to be abated and at same rate, Sec. 40-9B-5 am'd.

Description

Under existing law, a municipality or a public industrial authority may abate taxes for economic development purposes under certain conditions. A municipality or municipal public industrial authority may abate county taxes only if the municipality has abated corresponding municipal taxes.

This bill would specify that a municipality or public industrial authority may abate county taxes only if the corresponding municipal tax is abated and the abatement is limited to the same rate of taxation as the corresponding municipal tax.

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Subjects

Taxation