SB96 Alabama 2016 Session

In Committee

Bill Summary

Sponsors

Dick Brewbaker

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 To amend Section 40-9B-5, Code of Alabama 1975, relating to the abatement of taxes by a municipality or a public industrial authority; to specify that in order for a municipality or a municipal public industrial authority to abate county tax, the municipality would be required to abate the corresponding municipal tax and the abatement of the county tax would be limited to the same rate of taxation as the corresponding municipal tax.

Subjects

Taxation

Bill Actions

Action Date	Chamber	Action
February 2, 2016	S	Read for the first time and referred to the Senate committee on Fiscal Responsibility and Economic Development

Bill Calendar

Type	Date	Location	Description
Hearing	February 24, 2016	Room 727 Revised-Bill Removed at 15:00	Senate FR&ED Hearing
Hearing	February 24, 2016	Room 727 Revised Public Hearing Added at 15:00	Senate FR&ED Hearing
Hearing	February 24, 2016	Room 727 at 15:00	Senate FR&ED Hearing
Hearing	February 10, 2016	Room 727 Public Hearing Added at 15:00	Senate FR&ED Public Hearing
Hearing	February 10, 2016	Room 727 at 15:00	Senate FR&ED Hearing

Bill Text

Download SB96 Alabama 2016 Session PDF

Bill Documents