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SB370 ENGROSSED
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SB370
QN6CF55-2
By Senators Livingston, Butler, Kitchens, Orr
RFD: Fiscal Responsibility and Economic Development
First Read: 17-Mar-26
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First Read: 17-Mar-26
A BILL
TO BE ENTITLED
AN ACT
Relating to economic development; to amend Section
11-99-2, Section 11-99-4, as last amended by Act 2026-104 of
the 2026 Regular Session, and Sections 11-99-5, and 11-99-6,
Code of Alabama 1975, 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; to allow 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; and to make nonsubstantive, technical
revisions to update existing code language to current style.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
Section 1. Section 11-99-2, Section 11-99-4, as last
amended by Act 2026-106 of the 2026 Regular Session, and
Sections 11-99-5, and 11-99-6, Code of Alabama 1975, are
hereby amended to read as follows:
"§11-99-2
As used in this chapter, the following terms have the
following meanings:
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following meanings:
(1) BLIGHTED OR ECONOMICALLY DISTRESSED AREA. Any of
the following:
a. Any area in which the structures, buildings, or
improvements, by reason of dilapidation, deterioration, age,
or obsolescence; inadequate provision for ventilation, light,
air, sanitation, or open spaces; high density of population
and overcrowding; or the existence of conditions that endanger
life or property by fire and other causes; or any combination
of such factors, are conducive to ill health, transmission of
disease, infant mortality, juvenile delinquency, or crime and
are detrimental to the public health, safety, morals, or
welfare.
b. Any area that by reason of the presence of a
substantial number of substandard, slum, deteriorated, or
deteriorating structures; predominance of defective or
inadequate street layout; faulty lot layout in relation to
size, adequacy, accessibility, or usefulness; unsanitary or
unsafe conditions; deterioration of site or other
improvements; diversity of ownership; tax or special
assessment delinquencies exceeding the fair value of the land;
defective or unusual conditions of title; or the existence of
conditions that endanger life or property by fire and other
causes; or any combination of the foregoing, substantially
impairs or arrests the sound economic growth of an area,
hinders the provision of housing accommodations, or
constitutes an economic or social liability and is a detriment
to the public health, safety, morals, or welfare in its
present condition and use.
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present condition and use.
c. Any area that is predominantly open and which
because of obsolete platting, diversity of ownership,
deterioration of structures or of site improvements, or
otherwise, substantially impairs or arrests the sound economic
growth of an area.
d. Any area that the local governing body: (i)
Determines is in need of redevelopment, rehabilitation, or
revitalization to provide for the economic growth and
development of the area ,; or (ii) certifies is in need of
redevelopment or rehabilitation as a result of flood, fire,
hurricane, tornado, earthquake, storm, or other catastrophe
which the Governor of the state has certified the need for
disaster assistance under federal law.
e. Any area containing excessive vacant land on which
structures were previously located; on which are located
abandoned or vacant buildings or old buildings; where
excessive vacancies exist in existing buildings; which
contains substandard structures; or with respect to which
there exist delinquencies in payment of real property taxes.
(2) DEFERRED TAX RECIPIENT. Each taxing authority that
receives ad valorem taxes with respect to property located in
a proposed tax increment district.
(3) ENHANCED USE LEASE AREA. Any area of a military
installation which contains underutilized real or personal
property, or both, that is leased by a secretary of a military
department to a lessee pursuant to the authority provided in
Title 10 U.S.C. § 2667.
(4) LOCAL FINANCE OFFICER. The legally authorized
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(4) LOCAL FINANCE OFFICER. The legally authorized
officer or agent responsible for receipt and disbursement of
the revenues of a taxing authority.
(5) LOCAL GOVERNING BODY. The governing body of a
county or municipality which proposes to create or has created
a tax increment district.
(6) MAJOR 21ST CENTURY MANUFACTURING ZONE. Any area
aggregating not less than 250 contiguous acres of real
property determined by a local governing body to meet all of
the following criteria:
a. Is located, in whole or part, within its boundaries
or corporate limits.
b. Is suitable for the site of an automotive,
automotive-industry related, aviation, aviation-industry
related, ship building-industry related, medical,
pharmaceutical, semiconductor, computer, electronics, energy
conservation, cyber technology, or biomedical industry
manufacturing facility or facilities.
c. Is an area within which not less than one hundred
million dollars ($100,000,000) of capital expenditure in
connection with the establishment, expansion, construction,
equipping, development, rehabilitation, or redevelopment of
the facility or facilities is anticipated to be made based
upon representations and information provided by the
anticipated user or users of the facility or facilities and
other information as the local governing body shall have
available to it and deems appropriate.
(7) MUNICIPALITY. Any incorporated municipality in this
state.
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state.
(8) PROJECT. Undertakings and activities of a public
entity in a tax increment district for any one or more of the
following:
a. As determined by the local governing body, the
elimination and prevention of the development or spread of
blight in, or the redevelopment or revitalization of, a
blighted or economically distressed area, including, but not
limited to, property acquisition, property clearance,
development, preservation, redevelopment, rehabilitation,
renovation, or conservation, or a combination or part thereof,
in accordance with a project plan.
b. The utilization of underutilized real or personal
property, or both, in an enhanced use lease area, including,
but not limited to, property acquisition, property clearance,
development, redevelopment, rehabilitation, or conservation,
or a combination or part thereof, in accordance with a project
plan.
c. The utilization of underutilized real property in an
area determined by a local governing body to be a Major 21st
Century Manufacturing Zone, including, but not limited to,
property acquisition; property clearance; development,
including, without limitation, public infrastructure
improvements and any other improvements for the construction
and equipping of automotive, automotive-industry related,
aviation, aviation-industry related, ship building-industry
related, medical, pharmaceutical, semiconductor, computer,
electronics, energy conservation, cyber technology, or
biomedical industry manufacturing facilities; or the
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biomedical industry manufacturing facilities; or the
redevelopment, rehabilitation, or conservation, or a
combination or part thereof, in accordance with a project
plan.
(9) PROJECT COSTS. Any expenditures made or estimated
to be made or monetary obligations incurred or estimated to be
incurred by a public entity, which in the case of expenditures
for or within a Major 21st Century Manufacturing Zone may be
incurred directly by the public entity or by a private entity
with funds granted by, or otherwise made available from, a
public entity, which are listed in a project plan as costs of
public works or improvements or, in the case of improvements
within a Major 21st Century Manufacturing Zone, public works
or improvements or private improvements, within a tax
increment district, plus any costs incidental thereto,
diminished by any special assessments, received or reasonably
expected to be received by the public entity in connection
with the implementation of the project plan. Project costs
include, but are not limited to, all of the following:
a. Capital costs, including the costs of the
acquisition, installation, or construction of public works or
improvements, new buildings, facilities or improvements,
structures, and fixtures, the preservation and renovation of
properties of historic significance and facades of properties,
the demolition, alteration, remodeling, repair, or
reconstruction of existing buildings, structures, facilities,
and fixtures, the improvement, maintenance, repair,
renovation, and replacement of property pursuant to a project
plan, the acquisition of equipment, the acquisition, clearing,
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plan, the acquisition of equipment, the acquisition, clearing,
and grading of land, environmental remediation of real
property, and the acquisition of interests in land.
b. Financing costs, including all interest paid to
holders of tax increment obligations during the period of
implementation of the project plan, the costs of any form of
credit enhancement, printing and trustee costs, and any
premium paid in excess of the principal amount thereof because
of the redemption of the obligations prior to maturity.
c. Real property assembly costs, meaning any deficit
resulting from the sale or lease as lessor by the public
entity of real or personal property within a tax increment
district for consideration which is less than its cost to the
public entity.
d. Professional service costs, including those costs
incurred for architectural, planning, engineering, fiscal,
underwriting, legal advice and services, and consulting and
management services.
e. Imputed administrative costs, including reasonable
charges for the time spent by officers and employees of the
public entity in connection with the implementation of a
project plan.
f. Relocation costs, including those relocation
payments made following condemnation under Chapter 1A of Title
18.
g. Organizational costs, including the costs of
conducting environmental impact and other studies and the
costs of informing the public with respect to the creation of
tax increment districts and the implementation of project
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tax increment districts and the implementation of project
plans.
h. The amount of any contributions made in connection
with the implementation of the project plan that are within
limits prescribed by law.
i. Payments made, at the discretion of the local
governing body, which are to be necessary or convenient to the
creation of tax increment districts or the implementation and
management of project plans.
j. For purposes of any tax increment district in which
not less than 50 percent, by area, of the real property within
the tax increment district is an enhanced use lease area, all
costs described in this subdivision which are expended by a
public entity or a developer within three years immediately
preceding the date of the creation of the tax increment
district.
k. For purposes of any tax increment district which
includes an area that a local governing body has determined to
be a Major 21st Century Manufacturing Zone, the costs incurred
by a public entity to acquire land or interests in land
forming all or part of such Major 21st Century Manufacturing
Zone prior to the date of creation of the tax increment
district; provided, prior to incurring such costs the local
governing body of such public entity has recited its intent to
reimburse such costs from ad valorem taxes collected within a
future tax increment district.
(10) PROJECT PLAN. The properly approved plan by the
public entity creating a tax increment district for the
development, redevelopment, or revitalization of a tax
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development, redevelopment, or revitalization of a tax
increment district, including all properly approved amendments
thereto.
(11) PUBLIC ENTITY. Any municipality or county in the
state.
(12) TAX INCREMENT. That amount obtained by multiplying
the total revenue derived from ad valorem taxes levied by all
local taxing authorities on all taxable property within a tax
increment district in any tax year by a fraction having a
numerator equal to that tax year's market value of all taxable
property in the district minus the tax increment base and a
denominator equal to that tax year's equalized value of all
taxable property in the district. In any tax year, a tax
increment is positive if the tax increment base is less than
the aggregate value of taxable property as equalized by the
Department of Revenue; it is negative if the base exceeds that
value.
(13) TAX INCREMENT BASE. The aggregate value, as
equalized by the Department of Revenue, of all taxable
property located within a tax increment district on the date
the district is created, determined as provided in Section
11-99-5.
(14) TAX INCREMENT DISTRICT. A contiguous geographic
area within the boundaries of a public entity defined and
created by resolution of the local governing body.
(15) TAX INCREMENT FUND. A fund into which all tax
increments not retained by a taxing authority as provided by
Section 11-99-10(a) are paid, and from which money is
disbursed to satisfy claims of holders of tax increment
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disbursed to satisfy claims of holders of tax increment
obligations issued for the tax increment district.
(16) TAX INCREMENT OBLIGATIONS. Bonds, warrants, notes,
or other evidences of indebtedness issued by a public entity
to fund all or any project costs.
(17) TAXABLE PROPERTY. All real and personal property
located in a tax increment district which is subject to ad
valorem taxation on the date of adoption of the resolution
creating the tax increment district.
(18) TAXING AUTHORITY.
a. For tax increment districts in which not less than
50 percent, by area, of the real property within the tax
increment district is a blighted or economically distressed
area, the term means any municipality, county, or other taxing
authority that has the power to levy taxes on property within
the tax increment districts.
b. For tax increment districts in which not less than
50 percent, by area, of the real property within the tax
increment district is an enhanced use lease area, the term
means the state or any municipality, county, or other taxing
authority that has the power to levy taxes on property within
the tax increment district.
c. For tax increment districts in which not less than
50 percent, by area, of the real property within the tax
increment district is which include an area that a local
governing body has determined to be a Major 21st Century
Manufacturing Zone, the term means the state or any
municipality, county, or other taxing authority that has the
power to levy taxes on property within the tax increment
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power to levy taxes on property within the tax increment
district."
"§11-99-4
(a) In order to exercise its powers under this chapter,
a public entity shall take the following steps:
(1) The local governing body shall hold a public
hearing at which all interested parties are afforded a
reasonable opportunity to express their views on: (i) the
concept of tax increment financing; (ii) the proposed creation
of a tax increment district and its proposed boundaries; and
(iii) its benefits to the public entity. Notice of the hearing
shall be published in a newspaper of general circulation in
either the county or in the city, as the case may be, in which
the proposed tax increment district is to be located with
notice to be published at least twice in the 15-day period
immediately preceding the date of the hearing. Prior to
publication, a copy of the notice shall be sent by first class
mail to the chief executive officer of each deferred tax
recipient.
(2)a. In addition to the notice required by subdivision
(1), and either before or after the public hearing, the local
governing body shall make a written submission to the
governing body of each deferred tax recipient. The submission
shall include a description of the proposed boundaries of the
tax increment district, the tentative plans for the
development, redevelopment, or revitalization of the tax
increment district, and an estimate of the general impact of
the proposed project plan on property values and tax revenues.
b. Not later than the 15th day after the date on which
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b. Not later than the 15th day after the date on which
the notice required by subdivision (1) is mailed, each
deferred tax recipient shall designate a representative
empowered to meet with the local governing body to discuss the
project plan and the tax increment financing and shall notify
the local governing body of its designation. Failure of any
deferred tax recipient to designate a representative within
the 15-day period, or to notify the local governing body of
its designation, shall not prevent the local governing body
from proceeding hereunder. If a deferred tax recipient who has
failed to so designate a representative thereafter designates
a representative and notifies the local governing body of the
designation, the representative shall be entitled to notice of
any meetings held thereafter pursuant to this section, and
shall be entitled to attend the meetings, but shall have no
right to have matters discussed again which have already been
discussed.
c. The local governing body shall call a meeting, or
meetings, of the representatives of the deferred tax
recipients to be held at any time after 20 days from the
mailing notice referred to in subdivision (1). Each
representative shall be notified of each meeting at least
three days before the meeting is to be held, but notice may be
waived. At the meetings, the local governing body and the
representatives of the deferred tax recipients may discuss the
boundaries of the tax increment district, development within
the tax increment district, the exclusion of particular
parcels of property from the district, and tax collection for
the district. On the motion of the local governing body any
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the district. On the motion of the local governing body any
other matter relevant to the proposed tax increment district
may be discussed.
(3) The local governing body shall adopt a resolution,
which need not be published, which does all of the following:
a. Describes the boundaries of the tax increment
district with sufficient definiteness to identify with
ordinary and reasonable certainty the territory included. The
description shall include only those whole units of property,
other than publicly owned property such as streets, easements,
and rights-of-way, assessed for general property tax purposes.
If the public entity is a county, the description shall
include only those areas that lie outside the corporate limits
of any municipality, unless the governing body of a
municipality has consented to the inclusion of land within its
corporate limits within a tax increment district formed by a
county.
b. Creates the tax increment district as of a given
date after the date of adoption of the resolution. The date of
creation of the tax increment district may be a date
subsequent to the date of expiration of the period of duration
of an existing tax increment district of the public entity.
c. Fixes the period for the duration of the tax
increment district.
1. The duration may be for a period not to exceed 30
years from the date of creation of the tax increment district
in the case of a tax increment district in which not less than
50 percent, by area, of the real property within the tax
increment district is a blighted or economically distressed
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increment district is a blighted or economically distressed
area.
2. The duration may be for a period not to exceed 35
years from the date of creation of the tax increment district
in the case of a district in which not less than 50 percent,
by area, of the real property within the tax increment
district is an enhanced use lease area or which includes an
area that a local governing body has determined to be a Major
21st Century Manufacturing Zone, unless an amendment is made
to the project plan under subdivision (7).
d. Assigns a name to the tax increment district for
identification purposes, such as "tax increment district
number one."
e. Contains findings, which shall not be subject to
judicial review except after a showing of fraud, corruption,
or undue influence, that:
1. (A) Not less than 50 percent, by area, of the real
property within the tax increment district is: (i) In need of
rehabilitation, redevelopment, revitalization, or conservation
work;, or (ii) an enhanced use lease area; or (iii)(B) the tax
increment district includes an area that a local governing
body has determined to be a Major 21st Century Manufacturing
Zone; and
2. The aggregate value of equalized taxable property in
the tax increment district plus all existing tax increment
districts created by the public entity does not exceed 10
percent of the total value of equalized taxable property
within the public entity or 50 percent if the public entity is
a Class 2 or Class 3 municipality. Provided, however, that
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a Class 2 or Class 3 municipality. Provided, however, that
equalized taxable property located within the boundaries of a
military reservation, jurisdiction over which has been ceded
to the United States pursuant to Section 42-3-1, shall be
excluded from aggregated value.
(4)a. The local governmental body shall prepare and
adopt a project plan for each tax increment district. The plan
shall include all of the following:
1. A statement listing the proposed projects,
including, without limitation and if applicable, the kind,
number, and location of all proposed public works or
improvements or, in the case of a Major 21st Century
Manufacturing Zone, public works or improvements or private
improvements, within the district.
2. A detailed list of estimated project costs.
3. A description of the methods of financing all
estimated project costs and the time when related costs or
monetary obligations are to be incurred.
4. A map showing existing uses and condition of real
property in the district.
5. A map or description showing proposed improvements
and uses therein.
6. Proposed changes of zoning, master map plan,
building code, and other ordinances or resolutions affecting
the district.
7. A list of estimated nonproject costs.
8. A proposed plan for the relocation of any families,
individuals, and businesses to be temporarily or permanently
displaced from housing or commercial facilities in the
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displaced from housing or commercial facilities in the
district by implementation of the plan.
b. For purposes of this chapter, any work or
improvement for a military installation and located within an
enhanced use lease area shall be deemed to be for public uses
and purposes.
(5) The local governing body shall certify all of the
following before approving the project plant:
a. That a feasible method exists for the relocation and
compensation of any individuals, families, and businesses that
will be displaced by the project in decent, safe, and sanitary
accommodations within their means and without undue hardship
to such individuals, families, and businesses.
b. That the project plan conforms to the applicable
master plan of the local entity, if there is one.
c. That the project plan will afford maximum
opportunity, consistent with the sound needs of the public
entity as a whole, for the rehabilitation, redevelopment, or
revitalization of the tax increment district by private
enterprise.
(6) A copy of the project plan shall be mailed to the
governing body of each deferred tax recipient, before approval
of the project plan.
(7) The local governing body may at any time adopt an
amendment to a project plan by complying with the procedures
for the original adoption of a project plan.
(8) The public entity that created the tax increment
district, and each deferred tax recipient with respect to the
tax increment district, notwithstanding any provision in this
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tax increment district, notwithstanding any provision in this
chapter to the contrary, by written mutual agreement duly
authorized, executed, and delivered thereby, may establish an
advisory board for the tax increment district composed of the
mayor or the chair of the county commission of the public
entity, as appropriate, a member of the governing body of the
public entity that represents the largest area in the tax
increment district, and other members as the respective
governing body, or its designee, of each deferred tax
recipient may appoint; provided a majority of the members of
an advisory board must be members of the governing body of the
public entity.
(b) Judicial review of a decision of a public entity
related to a tax increment district shall be as provided by
law."
"§11-99-5
(a) The tax increment base shall be determined as
provided in this section.
(b) Upon application in writing by the local finance
officer, the tax assessor, or the officer of the county
performing the duties of a tax assessor, for each county in
which any part of the district is located shall determine,
according to his or her best judgment from all sources
available to him or her, the full aggregate value of the
taxable property in the district located in that county as of
the date of creation of the tax increment district. The
aggregate valuation from all such tax assessors or other such
public officials, upon certification to the local finance
officer, shall constitute the tax increment base of the
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officer, shall constitute the tax increment base of the
district ;, provided, however, if a public entity creates a
district that is to succeed and continue the programs and
project plans for redevelopment and revitalization of property
in an existing tax increment district upon its expiration, the
public entity and each deferred tax recipient with respect to
the successor tax increment district, notwithstanding any
provision in this chapter to the contrary, by written mutual
agreement duly authorized, executed, and delivered thereby,
may agree that the aggregate value of all taxable property
included in both the expiring district and the successor
district shall be the aggregate value of the taxable property
as originally determined for the tax increment base of the
expiring district as of the date of creation of the expiring
district and without redetermination of the value of the
taxable property as of the date of creation of the successor
district or some other date.
(c) If the public entity that created a tax increment
district in which not less than 50 percent, by area, of the
real property within the tax increment district is a blighted
or economically distressed area adopts an amendment to the
original project plan for the tax increment district that
includes additional project costs for which tax increments may
be received by the public entity, the tax increment base for
the district shall not be redetermined.
(d) If the public entity that created a tax increment
district in which not less than 50 percent, by area, of the
real property within the tax increment district is an enhanced
use lease area or which includes an area that a local
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use lease area or which includes an area that a local
governing body has determined to be a Major 21st Century
Manufacturing Zone adopts an amendment to the original project
plan for the tax increment district that includes additional
project costs for which tax increments may be received by the
public entity or an expansion of the tax increment district,
the tax increment base for the district shall not be
redetermined.
(e) There shall be a rebuttable presumption that any
property within a tax increment district, acquired or leased
as lessee by the public entity or any agency or
instrumentality thereof within one year immediately preceding
the date of the creation of the district, was so acquired or
leased in contemplation of the creation of the district. The
presumption may be rebutted by the public entity with proof
that the property was so leased or acquired primarily for a
purpose other than to reduce the tax increment base. If the
presumption is not rebutted, in determining the tax increment
base of the district, but for no other purpose, the taxable
status of the property shall be determined as though the lease
or acquisition had not occurred.
(f) The local tax assessor or person performing his or
her duties shall identify upon the tax records prepared by him
or her under Chapter 7 of Title 40 those parcels of property
which are within each existing tax increment district,
specifying the name of each district. A similar notation shall
also appear on the tax records made by the local finance
officer.
(g) The Department of Revenue shall annually give
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(g) The Department of Revenue shall annually give
notice to the designated finance officer of all taxing
authorities levying taxes on property within each district as
to both the assessed and equalized value of the property and
the assessed and equalized value of the tax increment base.
The notice shall state that the taxes collected in excess of
the base will be paid to the public entity."
"§11-99-6
(a) Positive tax increments of a tax increment district
shall be allocated and paid over to the public entity that
created the district for each year commencing on the October 1
following the date when the district is created until the
earlier of:
(1) That time, after: (i) The period of duration of the
tax increment district, as established pursuant to this
chapter, has expired ,; and (ii) the completion of all projects
and public improvements specified in, or purposes of, the
project plan or amendments thereto, when the public entity has
received aggregate tax increments from the district in an
amount equal to the aggregate of all expenditures previously
made or monetary obligations previously incurred for project
costs for the district; or
(2) Thirty-five years after the last expenditure
identified in the project plan is made. No expenditure may be
provided for in the project plan to be made more than five
years after the district is created, except as may be provided
in an amendment to the project plan, and except in Class 3
municipalities where the expenditures may be made not more
than 10 years thereafter if so provided and in tax increment
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than 10 years thereafter if so provided and in tax increment
districts in which not less than 50 percent, by area, of the
real property within the tax increment district is an enhanced
use lease area where the expenditures may be made not more
than 15 years thereafter if so provided, unless an amendment
is adopted by the local governing body under subdivision (7)
of Section 11-99-4 (7).
(b) Notwithstanding any other provision of law, every
officer charged by law to collect and pay over or retain local
general property taxes in the case of a tax increment district
in which not less than 50 percent, by area, of the real
property within the tax increment district is a blighted or
economically distressed area, or state and local general
property taxes in the case of a tax increment district in
which not less than 50 percent, by area, of the real property
within the tax increment district is an enhanced use lease
area or which includes an area that a local governing body has
determined to be a Major 21st Century Manufacturing Zone,
shall first, on the next settlement date provided by law, pay
over to the local finance officer out of all the taxes that
have been collected, that portion that represents a tax
increment allocable to a tax increment district, identifying
the amount for each district.
(c) All tax increments received for a tax increment
district, upon receipt by the local finance officer, shall be
deposited into the tax increment fund for that district. The
local finance officer may deposit additional monies into the
fund pursuant to an appropriation by the local governing body.
Monies shall be paid out of the fund only for direct payment
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Monies shall be paid out of the fund only for direct payment
of, or to reimburse the public entity for payments theretofore
made by it for principal of or interest on tax increment
obligations for that district if the obligations are general
obligations of the public entity, or to satisfy claims of
holders of tax increment obligations issued for that district,
or for direct payment of, or to reimburse the public entity
for payments theretofore made by the public entity that are
used to pay project costs. Subject to any agreement with
security holders, monies in the fund may be temporarily
invested in the same manner as other surplus funds of the
public entity. After the principal of and interest on all tax
increment obligations of the district have been paid or
provided for, subject to any agreement with security holders,
if there remains in the fund any monies, they shall be paid
over to the chief finance officer of the state, each county,
each municipality, each school district, and to the general
fund of the public entity in amounts as are due to each
respectively, having due regard for what portion of these
monies, if any, represents tax increments not allocated to the
public entity and what portion thereof, if any, represents
voluntary deposits of the public entity into the fund."
Section 2. This act shall become effective immediately.
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Section 2. This act shall become effective immediately.
Senate
Read for the first time and referred
to the Senate committee on Fiscal
Responsibility and Economic
Development
................17-Mar-26
Read for the second time and placed
on the calendar:
0 amendments
................19-Mar-26
Read for the third time and passed
as amended
Yeas 30
Nays 0
Abstains 0
................31-Mar-26
Patrick Harris,
Secretary.
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