41-10-46.01
Section 41-10-46.01 Investment by qualified funds. (a) Any qualified fund may invest at least three percent of its corpus in one or more approved opportunity funds. (b) The following terms shall have the following meanings: (1) "ADECA" shall mean the Department of Economic and Community Affairs. (2) "Approved opportunity fund" shall mean any fund approved by ADECA as meeting all of the following: a. ADECA determines that the fund has the capacity to improve Alabama's low-income opportunity zone communities by approving an application showing all of the following: 1. The amount of existing committed capital or potential to raise committed capital. 2. The investment track record or strength of the applicant's management team. 3. The existing project pipeline or strategy for developing new pipeline. 4. The fund structure and anticipated returns within that fund structure. 5. The presence of sound legal, accounting, and compliance policies and procedures. 6. A strategy for measuring,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-46.01.htm - 5K - Match Info - Similar pages
24-1-22
Section 24-1-22 Definitions. The following terms, wherever used or referred to in this article, shall have the following respective meanings, unless a different meaning clearly appears from the context: (1) AUTHORITY or HOUSING AUTHORITY. A public body organized as a body corporate and politic in accordance with the provisions of this article for the purposes, with the powers and subject to the restrictions set forth. (2) CITY. Any city or incorporated town in the State of Alabama. (3) COUNCIL. The legislative body, council, board of commissioners or other body charged with governing the city. (4) CITY CLERK and MAYOR. The clerk, and the mayor or president of the board of commissioners, respectively, of the city or the officers thereof charged with the duties customarily imposed on the clerk and mayor respectively. (5) COMMISSIONER. One of the members of an authority appointed in accordance with the provisions of this article. (6) GOVERNMENT. Such term shall include the state and...
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41-23-30
Section 41-23-30 Contracts with eligible businesses to provide for tax exemptions; preference to Alabama manufacturers; endorsement resolution; certification as to employees; wage subsidies. (a) The department, after consultation with the council, and with the approval of the Governor, may enter into contracts with eligible businesses to provide: (1) For the exemption from sales and use tax imposed by the State of Alabama or from sales and use tax imposed by its political subdivisions, upon approval of the governing authority thereof, of the purchases of the material used in the construction of a building, or any addition or improvement thereon, for housing any legitimate zone business enterprise, and machinery and equipment used in that enterprise. (2) For certain exemptions from income taxes levied by the State of Alabama levied on eligible corporations and individuals for a period of five years. (3) For certain exemptions of business privilege taxes levied by the State of Alabama...
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24-2-4
Section 24-2-4 Approval of redevelopment plan by governing bodies of cities, counties, etc., in which project situated; assistance of redevelopment projects by cities, counties, etc. An authority or the governing body of any city or town shall not initiate any redevelopment project under this chapter until the governing body, or agency designated by it or empowered by law to so act of each city, town, or village, hereinafter called "municipalities," in which any of the area to be covered by said project is situated has approved a plan, herein called the "redevelopment plan," which provides an outline for the development or redevelopment of said area and is sufficiently complete: (1) To indicate its relationship to definite local objectives as to appropriate land uses and improved traffic, public transportation, public utilities, recreational and community facilities, and other public improvements; (2) To indicate proposed land uses and building requirements in the area; and (3) To...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-2-4.htm - 2K - Match Info - Similar pages
11-96-3
Section 11-96-3 Community action agency; defined; governing board; biannual audit; delegation of responsibility; service area; consultation with neighborhood-based organizations; powers and duties. (a) A "community action agency" for the purposes of this chapter shall include the following: (1) A county, a municipality or a combination thereof; (2) A private nonprofit agency which has been designated as an "eligible entity" under Section 673(1) of the Community Services Block Grant Act; or (3) A private nonprofit agency newly established by local ordinance in compliance with subsection (b) of this section. (b) Each community action agency shall administer its programs through a governing board consisting of 15 to 51 members. (1) One-third of the members of the board shall be elected or appointed public officials, currently holding office or their representatives. These members shall be designated or approved by the chief elected local government official or officials of the...
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22-21-311
Section 22-21-311 Definitions. (a) The following words and phrases used in this article, and others evidently intended as the equivalent thereof, shall, in the absence of clear implication herein otherwise, be given the following respective interpretations herein: (1) APPLICANT. A natural person who files a written application with the governing body of a county, municipality, or educational institution, or two or more thereof, in accordance with the provisions of Section 22-21-313. (2) AUTHORITY. A public corporation organized, and any public hospital corporation reincorporated, pursuant to the provisions hereof. (3) AUTHORIZING RESOLUTION. The resolution adopted by the governing body of an authorizing subdivision, in accordance with the provisions of Section 22-21-313 or Section 22-21-341, that authorizes the incorporation of an authority or the reincorporation of a public hospital corporation. (4) AUTHORIZING SUBDIVISION. Each county, municipality, and educational institution with...
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45-46-90.06
Section 45-46-90.06 Powers of the authority. (a) The authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name for the duration of time which may be perpetuity, subject to Section 45-46-90.18, specified in its certificate of incorporation. (2) To sue and be sued in its own name in civil suits and actions, excepting actions in tort, and to defend suits against it. (3) To adopt and make use of a corporate seal and to alter the same at pleasure. (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business. (5) To acquire, receive, and take, by purchase, gift, lease, devise, or otherwise, and to hold property of every description, real, personal, or mixed. (6) To make, enter into, and execute such contracts, agreements, leases, and other instruments and to take such other actions as may be necessary or convenient to accomplish any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-46-90.06.htm - 9K - Match Info - Similar pages
11-65-1
Section 11-65-1 Legislative declarations and findings. The Legislature hereby finds and declares as follows: (1) As the basis for enacting Act No. 84-131, the Legislature found and determined that the conduct within Class 1 municipalities in the state of horse racing events and pari-mutuel wagering thereon will generate additional revenues for governmental and charitable purposes, provide additional jobs for the residents of the state and benefit the businesses related to tourism and recreation within any such municipality and throughout the surrounding areas of the state; it is desirable to permit the qualified voters of any Class 1 municipality to determine through referendum whether horse racing and pari-mutuel wagering thereon will be permitted in such municipality; and for each Class 1 municipality in which horse racing is approved by the voters thereof, it is necessary and desirable to provide for the establishment of a racing commission to regulate horse racing and pari-mutuel...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-65-1.htm - 18K - Match Info - Similar pages
41-15B-2.2
Section 41-15B-2.2 Allocation of trust fund revenues. (a) For each fiscal year, beginning October 1, 1999, contingent upon the Children First Trust Fund receiving tobacco revenues and upon appropriation by the Legislature, an amount of up to and including two hundred twenty-five thousand dollars ($225,000), or equivalent percentage of the total fund, shall be designated for the administration of the fund by the council and the Commissioner of Children's Affairs. (b) For the each fiscal year, beginning October 1, 1999, contingent upon the Children First Trust Fund receiving tobacco revenues, the remainder of the Children First Trust Fund, in the amounts provided for in Section 41-15B-2.1, shall be allocated as follows: (1) Ten percent of the fund shall be allocated to the Department of Public Health for distribution to one or more of the following: a. The Children's Health Insurance Program. b. Programs for tobacco control among children with the purpose being to reduce the consumption...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-15B-2.2.htm - 22K - Match Info - Similar pages
28-3-190
Section 28-3-190 Levy of tax; collection; disposition of proceeds by localities; enforcement and administration; penalties; exclusive nature of tax. (a) Levy. In addition to the excise tax levied by Article 5A of Chapter 3 of this title and the licenses provided for by Chapter 3A of this title and by Section 28-3-194, and any acts amendatory thereof, supplementary thereto or substituted therefor, and municipal and county licenses, there is hereby levied a privilege or excise tax on every person licensed under the provisions of Chapter 3A who sells, stores, or receives for the purpose of distribution, to any person, firm, corporation, club, or association within the State of Alabama any beer. The tax levied hereby shall be measured by and graduated in accordance with the volume of sales by such person of beer, and shall be an amount equal to one and six hundred twenty-five thousands cents (1.625 cents) for each four fluid ounces or fractional part thereof. (b) Collection. The tax levied...
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