Code of Alabama - Title 40: Revenue and Taxation - Chapter 9B - Tax Incentive Reform Act of 1992

• Section 40-9B-1 Short title
  This chapter shall be known and may be cited as the "Tax Incentive Reform Act of 1992."
• Section 40-9B-2 Legislative findings
  The Legislature recognizes the importance of industrial development to the well being of the people of the state. The Legislature also recognizes that industries are...
• Section 40-9B-3 Definitions
  (a) For purposes of this chapter, the following words and phrases mean: (1) ABATE, ABATEMENT. A reduction or elimination of a taxpayer's liability for tax...
• Section 40-9B-4 Authorization of abatement
  (a) Noneducational ad valorem taxes, construction related transaction taxes, except those local construction related transaction taxes levied for educational purposes or for capital improvements for...
• Section 40-9B-4.1 Availability of incentives
  In no event shall any incentive provided in Act 2012-210 be available to any company filing an application after December 31, 2023, unless Act 2012-210...
• Section 40-9B-5 Granting of abatement
  (a) Subject to the geographical or jurisdictional or other limitations specified in subsections (b), (c), and (d), the governing body of a municipality, a county,...
• Section 40-9B-6 Procedure for granting abatement
  (a) Any person who proposes to become a private user of industrial development property or of a major addition may apply to the governing body...
• Section 40-9B-7 Private use property; taxation thereof
  (a) Notwithstanding any other provision of law, if a public authority or county or municipal government has title to or a possessory right in private...
• Section 40-9B-8 Certain purchases of tangible personal property used in constructing industrial development property exempted
  Notwithstanding any other laws and subject to the limitations set out in Section 40-9B-5, the gross proceeds of the sale to, or the storage, use,...
• Section 40-9B-9 Approval required for certain abatements
  With respect to industrial development property for the establishment or expansion of an industrial or research enterprise as defined in paragraph b. of subdivision (10)...
• Section 40-9B-10 Applicability to certain trades or businesses engaged in postharvest processing of peanuts
  Beginning April 1, 2003, a trade or business in counties with populations under 30,000 engaged in the postharvest processing of peanuts described in the 1987...
• Section 40-9B-11 Exemption period for qualified industrial or research enterprises
  (a) Effective October 1, 2011, the maximum exemption period for a qualifying industrial or research enterprise described in paragraph e. of subdivision (10) of subsection...
• Section 40-9B-12 Availability of abatements after December 31, 2018
  The tax abatements and abatements of payments in lieu of taxes authorized by the amendments to Sections 40-9B-3, 40-9B-4, and 40-9B-11 by Act 2008-275 shall...
• Section 40-9B-13 Disaster recovery tax incentive protection
  (a) This section shall be known as the Disaster Recovery Tax Incentive Protection Act of 2011. (b) For the purposes of this section, the following...

Last modified: May 3, 2021