The income of any authority, all bonds issued by an authority and the interest paid on any such bonds, all conveyances by or to an authority, and all leases, mortgages, and deeds of trust by or to an authority shall be exempt from all taxation in the State of Alabama. Any authority shall also be exempt from all license and excise taxes imposed in respect of the privilege of engaging in any of the activities in which an authority may engage. An authority shall not be obligated to pay or allow any fees, taxes, or costs to the judge of probate of any county in respect of its incorporation, the amendment of its certificate of incorporation, or the recording of any document. Nothing contained in this section shall be construed to exempt the property of an authority from any ad valorem taxes imposed by the state or any county, municipality, or other political subdivision, or to exempt an authority from any privilege or license taxes levied by the state or any county, municipality or other political subdivision with respect to tangible personal property purchased or used by an authority.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 54 - Promotion of Industry, Trade, Commerce and Pollution Control.
Article 6 - Commercial Development Authorities.
Section 11-54-170 - Legislative Intent; Liberal Construction.
Section 11-54-171 - Definitions.
Section 11-54-172 - Meaning of "Herein," etc.; Construction of Definitions.
Section 11-54-177 - Officers of the Authority.
Section 11-54-178 - Powers of Authority; Location of Projects; Public Meetings.
Section 11-54-179 - Bonds of Authority Generally.
Section 11-54-180 - Proceeds From Sale of Bonds.
Section 11-54-181 - Refunding Bonds.
Section 11-54-183 - Exemption From Certain Taxes and Fees.
Section 11-54-184 - Nonliability of Authorizing Municipality.
Section 11-54-185 - Exemption From Usury and Interest Laws.
Section 11-54-186 - Exemption From Competitive Bid Laws.
Section 11-54-187 - Freedom of Authority From State Supervision and Control.
Section 11-54-188 - Earnings of an Authority.
Section 11-54-190 - Incorporation of Another Authority by Same Municipality.