Title 40 — Title 40

This chapter shall be known and may be cited as the “Tax Incentive Reform Act of 1992.” History: (Acts 1992, No. 92-599, p. 1239, §1.)

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 Standard Industrial Classification Manual, or its successor, shall constitute an industrial or research enterprise for onl…

(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 (a) of Section 40-9B-3, which is owned by a utility described in Section 37-4-1(7)a., shall be 10 years appli…

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 not be available for new industrial or research enterprises described in Section 40-9B-3(a)(10)e. after December 31, 2018, …

(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 terms shall have the following meanings: (1) DISASTER REPLACEMENT PROPERTY. Private use industrial property obtained by a private use…

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 attracted by a number of factors, including natural resources, a well-trained workforce, good roads, and excellent…

AMENDED BY ACTS 2026-550 AND 2026-573, EFFECTIVE JUNE 1, 2026. SEE ACTS FOR REVISED LANGUAGE. (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 or payments required to be made…

AMENDED BY ACT 2026-573, EFFECTIVE JUNE 1, 2026. SEE ACT FOR REVISED LANGUAGE. (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 ed…

AMENDED BY ACT 2026-573, EFFECTIVE JUNE 1, 2026. SEE ACT FOR REVISED LANGUAGE. In no event shall any incentive provided in Act 2012-210 be available to any company filing an application after July 31, 2028. Any project granted an incentive prior to July 31, 2028, shall be entitle…

(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, or a public industrial authority may grant abatements of all of the taxes allowed to be abated under Section 40-9B-4 …

(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 of any municipality, county, or public industrial authority, at or about the time that the private user is requesting inducement, for an …

(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 use property, then: (1) The property shall be subject to ad valorem taxes as if the private user held title to the property. (2) T…

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, or consumption by, any contractor of any tangible personal property to be incorporated into a private u…

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) of Section 40-9B-3, the governing body of a municipality, county, or public industrial authority shall not gra…