Alabama § 40-9I-1 (Effective June 1, 2026) Portions of Noneducational Ad Valorem Tax and Construction Related Transaction Tax Unabated

Alabama Statutes

§ 40-9I-1 — (Effective June 1, 2026) Portions of Noneducational Ad Valorem Tax and Construction Related Transaction Tax Unabated

Alabama·Title 40 Revenue and Taxation·Ch. 9I Unabatement of Noneducational Ad Valorem Tax and State Construction Related Transaction Tax

Upon the granting of an abatement pursuant to Section 40-9B-4 or 40-9G-2 during the applicable exemption period:

(1)One mill of the state’s abated noneducational ad valorem taxes shall be unabated. The local tax collecting official shall collect 1.0 mill of the state noneducational ad valorem taxes that otherwise could have been abated and remit the amount collected to the State Comptroller for deposit into the Alabama Development Fund.

(2)Three-quarters of one percent of the state construction related transaction taxes on private use industrial property shall be unabated. The Department of Revenue shall collect the unabated rate on sales of private use industrial property which was previously subject to abatement and shall deposit such funds directly to the Alabama Development Fund.

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Upon the granting of an abatement pursuant to Section 40-9B-4 or 40-9G-2 during the applicable exemption period:
(1) One mill of the state’s abated noneducational ad valorem taxes shall be unabated. The local tax collecting official shall collect 1.0 mill of the state noneducational ad valorem taxes that otherwise could have been abated and remit the amount collected to the State Comptroller for deposit into the Alabama Development Fund.
(2) Three-quarters of one percent of the state construction related transaction taxes on private use industrial property shall be unabated. The Department of Revenue shall collect the unabated rate on sales of private use industrial property which was previously subject to abatement and shall deposit such funds directly to the Alabama Development Fund.

Alabama § 40-9I-1 ((Effective June 1, 2026) Portions of Noneducational Ad Valorem Tax and Construction Related Transaction Tax Unabated) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.