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33-12-5
Section 33-12-5 Powers, duties and functions. The powers, duties and functions of the agency
shall be as follows: (1) GENERALLY. The agency a. Shall have perpetual succession in its corporate
name. b. May sue and be sued in its corporate name. c. May adopt, use and alter a corporate
seal, which shall be judicially noticed. d. May enter into such contracts and cooperative
agreements with the federal, state and local governments, with agencies of such governments,
with private individuals, corporations, associations, trusts and other organizations as the
board may deem necessary or convenient to enable it to carry out the purposes of this chapter,
including the planned, orderly residential development of the area. e. May adopt, amend and
repeal bylaws. f. May appoint such managers, officers, employees, attorneys and agents as
the board deems necessary for the transaction of its business, fix their compensation, define
their duties, require bonds of such of them as the board may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-12-5.htm - 18K - Match Info - Similar pages
37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11A-1.htm - 33K - Match Info - Similar pages
40-14B-19
Section 40-14B-19 Rate making for insurance contract. A certified investor is not required
to reduce the amount of premium tax included by the investor in connection with rate making
for any insurance contract written in this state because of a reduction in the investor's
Alabama premium tax derived from the credit granted under this chapter. (Act 2002-429, p.
1108, §19.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-14B-19.htm - 682 bytes - Match Info - Similar pages
40-18-342
Section 40-18-342 Tax credit for equipment and conversion costs. (a)(1) Subject to subdivision
(2), for all tax years beginning after December 31, 2011, until tax year ending December 31,
2017, there shall be allowed to any agricultural trade or business an income tax credit equal
to 20 percent of the cost of the purchase and installation of any qualified irrigation equipment
and any conversion costs related to the conversion of irrigation equipment from fuel to electricity
or qualified reservoirs. For a surface water withdrawal irrigation system to be eligible for
credit, the irrigation system must operate utilizing a qualified reservoir, except when the
surface water withdrawal is directly from any river or stream whose average annual flow exceeds
8,000 cubic feet per second. A qualified reservoir is not required for a ground water withdrawal
irrigation system. The credit shall be equal to 20 percent of the accrued cost of the qualified
irrigation equipment and the cost of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-342.htm - 6K - Match Info - Similar pages
40-14B-21
Section 40-14B-21 Biennial report. (a) The Alabama Development Office shall prepare a biennial
report with respect to results of the implementation of this chapter. The report must include
all of the following: (1) The number of certified capital companies holding certified capital.
(2) The amount of certified capital invested in each certified capital company. (3) The amount
of certified capital the certified capital company has invested in qualified technology businesses
as of January 1, 2004, and the cumulative total for each subsequent year. (4) The total amount
of tax credits granted under this chapter for each year that credits have been granted. (5)
The performance of each certified capital company with respect to renewal and reporting requirements
imposed under this chapter. (6) With respect to the qualified technology businesses in which
capital companies have invested all of the following: a. The classification of the qualified
businesses according to the industrial sector...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-14B-21.htm - 1K - Match Info - Similar pages
40-14B-10
Section 40-14B-10 Qualified distributions. (a) A certified capital company may make a qualified
distribution at any time. To make a distribution or payment, other than a qualified distribution,
a company must have made qualified investments in an amount cumulatively equal to at least
100 percent of its certified capital. (b) Notwithstanding subsection (a), a company may make
payments of principal and interest on its indebtedness without any restriction, including
payments of indebtedness of the company on which certified investors earned premium tax credits.
(c) The State of Alabama shall receive a 10 percent share of any distributions other than
qualified distributions and payments with respect to indebtedness from the certified capital
company to its equity holders above and beyond the amount of distributions that would result
in an internal rate of return on the total amount of certified capital allotted to the certified
capital company plus any additional capital contribution to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-14B-10.htm - 1K - Match Info - Similar pages
40-18-392
Section 40-18-392 (Tax credit expires January 1, 2019, per subsection (g)). Qualifications
for and applicability of tax credit. (a) An Alabama small business tax credit is hereby allowed
for any Alabama small business employer that creates a new job and hires a new full-time employee
to fill that job. The credit shall be a one-time credit equal to one thousand five hundred
dollars ($1,500) for each qualified new employee, and shall only be applicable to a tax year
in which the new employee has completed 12 months of consecutive full-time employment with
the employer. (b) To qualify for the credit, the employer must have a net employee growth
as of the last date of each tax year during which the employer claims a credit pursuant to
this article. The net employee growth must equal or exceed the number of qualified new employees
for which a credit is sought in the current or applicable tax year, plus the total number
of qualified new employees for whom credits were claimed pursuant to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-392.htm - 3K - Match Info - Similar pages
40-18-413
Section 40-18-413 (Per Section 40-18-416, this section is repealed following the close of fiscal
year 2020) Scope and use of Growing Alabama Credits. (a) A taxpayer is allowed a Growing Alabama
Credit to be applied against the tax levied by this chapter. In no event shall the Growing
Alabama Credit cause a taxpayer's income tax liability to be reduced by more than 50 percent.
Unused credits may be carried forward for no more than five years. (b) Growing Alabama Credits
shall be granted to taxpayers using an online system administered by the Department of Revenue.
The online system shall allow taxpayers to agree to make a cash contribution to an economic
development organization which was approved by the Renewal of Alabama Commission, as provided
in Section 40-18-412. The online system shall ensure that credits are not granted for contributions
to an economic development organization in excess of the amounts approved by the Renewal of
Alabama Commission, as provided in Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-413.htm - 2K - Match Info - Similar pages
40-17-142
Section 40-17-142 Credit of payment of gasoline and motor fuel taxes. (a) Every motor carrier
subject to the tax hereby imposed shall be entitled to a credit on such tax equivalent to
the rate per gallon of the applicable Alabama tax on motor fuel which is currently in effect
on all motor fuel purchased by such motor carrier within this state for use in its operations
either within or without this state and upon which the motor fuel tax has been paid by such
motor carrier. Evidence of the payment of such taxes in such form as may be required by, or
is satisfactory to, the commissioner shall be furnished by each such carrier claiming the
credit herein allowed. When the amount of the credit herein provided to which any motor carrier
is entitled for any quarter exceeds the amount of the tax hereby imposed for which the motor
carrier is liable for the same quarter, such excess may under regulations of the commissioner
be allowed as a credit on the tax hereby imposed for which such motor...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-17-142.htm - 2K - Match Info - Similar pages
40-17-180
Section 40-17-180 Effect of acceptance of money on recovery of balance. The acceptance of any
money paid for the excise tax provided for in this article shall in no way preclude the collection
of the money actually due; provided, that the money actually paid shall constitute a credit
against the money actually due. In the event of the payment of an amount in excess of the
amount due, the department may credit such excess against the tax due for any subsequent monthly
period, or such excess may be refunded pursuant to the refund procedures in Chapter 2A of
this title, provided, that no credit shall be allowed unless made within the time provided
for refunds under Chapter 2A of this title. (Acts 1935, No. 194, p. 256; Code 1940, T. 51,
§640; Acts 1943, No. 472, p. 437; Acts 1951, No. 941, p. 1608, §1; Acts 1992, No. 92-186,
p. 349, §51.)...
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