Related Transaction Tax Unabated. [Effective June 1, 2026.]
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.
History: (Act 2025-84, §1.)