As Amended
SEC. 27-31-107. Applications for exemptions.
Any person, firm or corporation claiming exemptions from municipal or county ad valorem taxation as provided in Sections 27-31-101 through 27-31-117 shall first file an application therefor, in triplicate, with the governing authorities of the municipality or the county board of supervisors, as the case may be. Each copy shall be subscribed and sworn to by the individual making the application or, if a firm or corporation, by an officer or person duly authorized to do so. In the application, full information shall be given as to the property proposed to be exempted, the kind of articles to be manufactured, and the date from which exemption is claimed. Each application shall also show an itemized listing of the true value of all such property sought to be exempted. The governing authorities of the municipality or county board of supervisors may, by resolution spread on its minutes, approve such application for all or any part of the property sought to be exempted and for all or any part of the authorized period of exemption. The resolution of approval shall also have an itemized listing of the true value of all property to be exempted. The original of the application plus three (3) copies and a certified transcript of a resolution of approval shall be forwarded to the State Tax Commission within thirty (30) days from the date of the certified transcript of the resolution, and the commission shall proceed to investigate the matter and determine whether the property is eligible and should be exempted as heretofore defined. If the Tax Commission determines, after investigation as to financial ability, business experience and technical qualifications of the person, firm or corporation claiming the exemption, that the property sought to be exempted is eligible, and the creation and establishment of such industry will promote the industrialization of this state and will supply employment to citizens of this state, and will otherwise promote the development of the community in which same is located, then it shall so certify to the governing authorities of the municipality or the county board of supervisors, as the case may be, by issuing its certificate of approval. In the case of an enterprise described in Section 27-31-101 with respect to which any board of supervisors or municipal governing authority has agreed to grant an exemption for a period of not more than ten (10) years, as authorized by Section 27-31-101 prior to its amendment by Chapter 524, Laws, 1989 (Senate Bill 2925, 1989 Regular Session), the Tax Commission shall concur in any findings or determinations relating to eligibility for ad valorem tax exemptions reached by the Department of Economic Development prior to July 1, 1989. If such property sought to be exempted is not eligible for such exemption, as above set forth, the Tax Commission shall so certify. If the Tax Commission certifies that the applicant is eligible for an exemption, it shall be discretionary with the board of supervisors or municipal authorities as to whether they grant the exemption, but in no event shall an exemption be granted if the Tax Commission certifies that the applicant is not eligible for an exemption. The original copy of the application for exemption shall be returned to the governing authorities of the municipality or the county board of supervisors, as the case may be.
SOURCES: Codes, 1930, Sec. 3111; 1942, Sec. 9705; Laws, 1930, ch. 67; 1952, ch. 420, Sec. 3; 1989, ch. 524, Sec. 18; 1991, ch. 385 Sec. 1; 1993, ch. 513, Sec. 1; 1994, ch. 571, Sec. 3, eff from and after July 1, 1994