HB490 would amend the Alabama Constitution to allow payments from the Alabama Trust Fund to the Forever Wild Land Trust to reimburse Coosa County for lost ad valorem tax revenue caused by land acquisitions.
If approved, the amendment would let the Alabama Trust Fund provide extra money to Forever Wild Land Trust to compensate Coosa County for ad valorem taxes it loses when Forever Wild buys land. The reimbursement would be based on the ad valorem taxes paid on the property before it was acquired. Forever Wild Land Trust would owe these reimbursements as a first priority, as long as this does not impair any existing contracts. The amendment would take effect for the ad valorem tax year after ratification and would be self-executing.
Further Consideration
Chambliss motion to Carry Over adopted Voice Vote
Third Reading Carried Over
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Local Legislation
Motion to Adopt adopted Roll Call 514
Resolution of Local Application Offered
Motion to Read a Third Time and Pass adopted Roll Call 513
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the House of Representatives committee on Local Legislation
Source: Alabama Legislature