Section 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.Laws, 1986, ch. 449, § 4; Laws, 1993, ch. 527, § 1, eff. 7/1/1993.