As Amended
SEC. 57-75-35. Counties and municipalities authorized to enter into agreements with enterprises operating certain projects, providing that a county or municipality will approve requests for exemption from ad valorem taxes by supplier.
The board of supervisors of a county or the governing authorities of a municipality may enter into an agreement with an enterprise operating a project as defined in Section 57-75-5(f)(iv)1 providing that the board of supervisors or governing authorities will agree in advance to approve any request for exemption from ad valorem taxes submitted by a supplier of such enterprise in the manner provided by law and that any such exemption shall be for a period of ten (10) years. Such an agreement on the part of the board of supervisors or governing authorities may be for a period not to exceed twenty (20) years.
SOURCES: Added by Laws 2000, 3rd Ex Sess, ch. 1, Sec. 5, HB1, eff. from and after passage (approved Nov. 6, 2000.)