Section 10-4-23.1 - Validation of economic development contracts providing for payment in lieu oftaxes--Property classified.
10-4-23.1. Validation of economic development contracts providing for payment in lieu of taxes--Property classified. Notwithstanding the provisions of § 10-4-23, all contracts and agreements entered into on or before July 1, 1975, that have resulted in the acquisition of property under chapter 9-54, that provide for total or partial payment in lieu of taxes are validated, ratified, and confirmed and said acquired property is hereby classified for purposes of taxation.
Source: SL 1975, ch 93, § 2.