Section 45-NEW - [Newly enacted section not yet numbered]For the purposes of this act, the following words have the following meanings:
(1) AD VALOREM TAX. The ad valorem tax authorized in Section 216.03 of the Constitution of Alabama of 2022, and levied and collected on all taxable property in the city, being originally levied at the rate of 10 mills on each dollar of assessed value and, pursuant to proceedings heretofore taken under Amendment No. 325 and Amendment No. 373, presently levied at the rate of 13.5 mills on each dollar of assessed value.(2) ALABAMA CONSTITUTION. The Constitution of Alabama of 2022.(3) AMENDMENT NO. 325. Amendment No. 325 of the Constitution of Alabama of 1901.(4) AMENDMENT NO. 373. Amendment No. 373 of the Constitution of Alabama of 1901.(5) CITY. The City of Tuscaloosa.(6) CITY COUNCIL. The City Council of the City of Tuscaloosa.(7) SCHOOL BOARD. The Tuscaloosa City Board of Education.(8) SCHOOL FUNDING PROPOSAL. The proposal to increase the rate at which the ad valorem tax is authorized to be levied and collected to a maximum rate, for any tax year of the city, which is equal to $2.50 on each $100 (25.0 mills on each dollar) of assessed value, an increase of up to 11.5 mills on each dollar of assessed value and which increase is to be paid over to the school board and used by the school board for public school purposes.Ala. Code § 45-NEW (1975)
Added by Act 2024-211,§ 1, eff. 5/6/2024.