HB626

Allows Major 21st Century Manufacturing Zones to be located within tax increment districts without size restrictions and permits ad valorem tax.

This bill amends Alabama law to allow a Major 21st Century Manufacturing Zone to be located within a tax increment district without regard to the size of the tax increment district. It also allows ad valorem tax revenues collected within the tax increment district to be used to reimburse costs incurred by a public entity to acquire land within the Major 21st Century Manufacturing Zone prior to the creation of the tax increment district. The bill makes technical revisions to update existing code language to current style.