There is a newer version of the Code of Alabama
2006 Alabama Code - Section 11-54-96.1 — Ad valorem taxes required of hotels, etc., built under Section 11-54-80.
The industrial development board and all properties at any time owned by it and the income therefrom and all bonds issued by it and the income therefrom shall be exempt from all taxation in the State of Alabama.
(Acts 1949, No. 648, p. 991, §11.)
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