Ad valorem tax; extend deadlines for 50% exemption and lower fee-in-lieu minimum for certain projects and qualified businesses.

Version label updated from 'Committee Substitute' to 'As Passed the Senate' in both the header and title block, reflecting the bill's progression through the Senate.

Extended the construction deadline for energy project tax exemptions from December 31, 2036 to December 31, 2031

Extended the deadline for local governments to authorize tax exemptions from July 1, 2035 to July 1, 2030

Extended the deadline for entering fee-in-lieu agreements from June 30, 2028 to June 30, 2026

Extended the deadline for fee-in-lieu agreements to qualify for reduced minimum fees from July 1, 2035 to July 1, 2030

Added specific eligibility for projects in areas with Presidential Disaster Declarations issued on or after January 1, 2014

Reorganized the list of eligible projects, removing the separate category for projects in disaster areas and combining it with other high-investment projects

Adjusted minimum fee-in-lieu amounts to allow one-tenth (1/10) of taxes payable when agreements are entered before the extended July 1, 2030 deadline

Added provisions allowing regional economic development alliances to divide fee-in-lieu sums among member counties

Added specific provisions for projects in counties with regional economic development alliances to ensure debt service payments on bonds

Reorganized subsection numbering and formatting of Section 27-31-104 to clarify fee-in-lieu agreement procedures