SB370 allows Major 21st Century Manufacturing Zones within tax increment districts regardless of district size.

SB370 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 district. The bill also allows ad valorem tax revenues collected within the district to be used to reimburse costs incurred by a public entity to acquire land within the zone prior to the creation of the tax increment district. The bill makes nonsubstantive, technical revisions to update existing code language to current style.

SB370 allows Major 21st Century Manufacturing Zones within tax increment districts regardless of district size.

SB370 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 district. The bill also allows ad valorem tax revenues collected within the district to be used to reimburse costs incurred by a public entity to acquire land within the zone prior to the creation of the tax increment district. The bill makes nonsubstantive, technical revisions to update existing code language to current style.