As Amended
SEC. 21-45-7. Division of ad valorem taxes according to tax increment financing plan.
Any redevelopment project may contain a provision that municipal and county ad valorem taxes, if any, levied upon taxable property in a redevelopment project or municipal sales taxes collected within the area, or both, shall be divided according to a tax increment financing plan.
SOURCES: Laws, 1986, ch. 449, Sec. 4, eff from and after July 1, 1986. Laws, 1993, ch. 527, Sec. 1, eff from and after July 1, 1993.