Brownfield Development Tax Abatements (Alabama)
Last modified on February 12, 2015.
|Name||Brownfield Development Tax Abatements (Alabama)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive, Property Tax Incentive, Sales Tax Incentive|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy|
|Program Administrator||Alabama Department of Revenue|
The Brownfield Development Tax Abatements gives cities and counties the ability to abate, non-educational city and county sales and use taxes, non-educational state, city and county property taxes – up to 20 years, and mortgage and recording taxes. The brownfield development property must equal the lesser of 30 percent of the original cost of the property as remediated or $2,000,000 for companies expanding facilities. For new businesses, there is no such requirement. The property must be in the Alabama Department of Environmental Management's voluntary cleanup program to qualify for Brownfield abatements.