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2018 Op. Ala. Att'y Gen. 1 (2018)

handle is hein.sag/sagal0324 and id is 1 raw text is: 




                                                           2018-001

                                      STATE OF ALABAMA
                             OFFICE OF THE ATTORNEY  GENERAL
STEVEN T. MARSHALL                                                          501 WASHINGTON AVENUE
  ATTORNEY GENERAL                                                             P.O. BOX 300152
                                                                           MONTGOMERY, AL 36130-0152
                                                                               (334) 242-7300
                                                                             WWW.AGO.ALABAMA.GOV
                                      October 16, 2017



           Honorable Charles E. Short
           Chairman
           The Industrial Development Board
           City of Andalusia
           21754 Bill Benton Lane
           Andalusia, Alabama 36421

                                             Industrial Development   Boards   -
                                             Tax  Incentive Reform Act of 1992 -
                                             Ad  Valorem  Taxes -  Abatements  -
                                             Exemptions

                                             Under  the grandfather provisions of
                                             the  Tax  Incentive Reform  Act  of
                                             1992    (TIRA),   the   Industrial
                                             Development   Board of the  City of
                                             Andalusia    (IDB)   and    Shaw
                                             Industries  Group,  Inc.  (Shaw),
                                             may  enter into a supplemental lease
                                             agreement  regarding the acquisition,
                                             construction, or installation of real
                                             and  personal property that qualifies
                                             the    property   for   tax-exempt
                                             treatment.

                                             The  exemption period for abatements
                                             granted  pursuant to TIRA  and  the
                                             Alabama       Reinvestment     and
                                             Abatements  Act  will begin on  the
                                             later date on  which  property was
                                             acquired by or vested in the IDB or
                                             the date on which such property is or
                                             will  become   owned,   for federal
                                             income  tax purposes by Shaw.

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