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41-29-3
Section 41-29-3 Project notification; applications. (a)(1) The Secretary of Commerce
shall be notified in writing about the general parameters of a project if an entity is considering
locating or expanding a facility at a site within this state and intends to claim any of the
incentives provided by the State of Alabama that are described in subdivision (2) (the "required
notification"). The required notification should be made as soon as the project's parameters
are generally known or when a site or sites have been identified by a project entity or a
visit is made to the State of Alabama by the project entity or its representative. The initial
required notification may be made on an anonymous basis (i.e., "Project Alpha")
in order to protect the confidentiality of a proposed project. Upon timely notifying the secretary
within the time frame specified in this subdivision, the secretary shall transmit a letter
to the project entity or its representative acknowledging receipt of the...
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40-18-6.1
Section 40-18-6.1 Gain or loss - Special rules for capital gains invested in opportunity
zones. (a) The provisions in 26 U.S.C. ยง 1400Z-2 shall be applicable to an investment in
an approved opportunity fund in calculating both of the following: (1) The income tax levied
by this chapter, or the estimated income tax payment. (2) The financial institution excise
tax found in Chapter 16. (b) Any approved opportunity fund may enter into a project agreement
with ADECA to provide to the fund's investors impact investment tax credits against any tax
liability described in subdivisions (1) and (2) of subsection (a). The impact investment tax
credits shall be allocated annually, but only to the extent that one or more projects undertaken
by the fund are not producing the returns provided in the project agreement. Provided however,
the calculation of the impact investment tax credit does not guarantee a rate of return that
is more than the 52-week average yield rate for the United States 10-year...
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40-18-376.1
Section 40-18-376.1 Projects in targeted or jumpstart counties. (a) As used in this
section, the following terms shall have the following meaning: (1) JUMP START COUNTY.
Any Alabama county which meets all the following: a. That does not qualify as a targeted county.
b. That has experienced negative population growth over the last five years as determined
by the Commissioner of Labor as of each January 1 using the most current data available from
the United States Departments of Labor or Commerce, the United States Bureau of the Census,
or any other federal or state agency or department. c. Contains no more than two opportunity
zones as they existed on June 1, 2019. (2) TARGETED COUNTY. Any Alabama county that has a
population of 50,000 or less, as determined by the Commissioner of Labor as of each January
1 using the most current data available from the United States Departments of Labor or Commerce,
the United States Bureau of the Census, or any other federal or state agency or...
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40-9G-1
Section 40-9G-1 Definitions. For purposes of the chapter, the following words and phrases
shall have the following meaning: (1) APPROVED ACTIVITY. The conduct of an activity that is
predominantly any one or more of the following: a. Described by NAICS Code 1133, 115111, 2121,
22111, 221330, 31 (other than 311811), 32, 33, 423, 424, 482, 4862, 48691, 48699, 48819, 4882,
4883 (other than 48833), 493, 511, 5121 (other than 51213), 51221, 517, 518 (without regard
to the premise that data processing and related services be performed in conjunction with
a third party), 51913, 52232, 54133 (if predominantly in furtherance of another activity described
in this chapter), 54134 (if predominantly in furtherance of another activity described in
this chapter), 54138, 5415, 541614, 5417, 55 (if not for the production of electricity), 561422
(other than establishments that originate telephone calls), 562213, 56291, 56292, 611512,
927 or 92811. b. The production of biofuel as such term is defined in...
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40-9D-4
Section 40-9D-4 Enhancement of abatements and capital credits. (a) For the entities
that qualify under this chapter, an abatement shall be allowed for ad valorem taxes. Such
abatement shall follow the provisions and definitions of Chapter 9B of this title with the
following exceptions: (1) The maximum exemption period as provided in subdivision (10) of
Section 40-9B-3 shall be 20 years. (2) This abatement shall apply to real property
located at other Alabama project sites built, owned, and operated by the qualifying entity
as a component of the qualifying project. Such abatement shall be made pursuant to the provisions
of the granting authority where the ancillary property is located. (3) This abatement shall
apply to the qualifying entity's tangible personal property located at other Alabama project
sites if the property is a component of the qualifying project. Such abatement shall be made
pursuant to the provisions of the granting authority where the ancillary property is located....
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11-92C-15
Section 11-92C-15 Failure to pay past due assessments. If any user, lessee, or owner
of the project fails to pay when due, with time being of the essence, any assessments or fees
due under this chapter, including, but without limitation, any payments in lieu of taxes,
collectively "past due assessment," then the authorizing subdivision or authority,
or their designated agents, collectively the "fee collector," may commence proceedings
to foreclose on the land and improvements of the user, lessee, or owner of the project having
land within the State of Alabama, subject to the terms of any executed agreement between the
fee collector and the user, lessee, or owner of the project, as follows: (1) A fee collector
shall send a letter by means of United States certified mail, return receipt requested, to
the last known address of the user, owner, or lessee of the project. The address of the user,
owner, or lessee as shown in the tax assessment records of the tax assessor or revenue...
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40-9F-4
Section 40-9F-4 Tax credits calculated, claimed, reserved, granted; transfer or assignment
of tax credits. (a) The state portion of any tax credit against the tax imposed by Chapters
16 and 18, for the taxable year in which the certified rehabilitation is placed in service,
shall be equal to 25 percent of the qualified rehabilitation expenditures for certified historic
structures, and shall be 10 percent of the qualified rehabilitation expenditures for qualified
pre-1936 non-historic structures. No tax credit claimed for any certified rehabilitation may
exceed five million dollars ($5,000,000) for all allowable property types except a certified
historic residential structure, and fifty thousand dollars ($50,000) for a certified historic
residential structure. (b) The entire tax credit may be claimed by the taxpayer in the taxable
year in which the certified rehabilitation is placed in service. Where the taxes owed by the
taxpayer are less than the tax credit, the taxpayer shall not be...
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11-92C-8
Section 11-92C-8 Powers of 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
in perpetuity, subject to Section 11-92C-20, specified in its certificate of incorporation.
(2) To sue and be sued in its own name and to prosecute and defend civil actions in any court
having jurisdiction of the subject matter and of the parties; provided that the authority
shall be deemed to be a governmental entity as defined in Chapter 93 of this title for the
purpose of limiting the damages for which the authority may be liable. (3) To adopt and make
use of a corporate seal and to alter the seal at its pleasure. (4) To adopt and alter bylaws
for the regulation and conduct of its affairs and business. (5) To acquire, whether by purchase,
construction, exchange, gift, lease, or otherwise, and to refinance existing...
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22-21-140
Section 22-21-140 Lease agreements with municipality. (a) Authorization of lease. The
authority and the municipality are hereby respectively authorized to enter into one or more
lease agreements with each other whereunder one or more projects or any part thereof shall
be leased by the authority to the municipality. No such lease agreement shall be for a term
longer than the then current fiscal year in which it is made. Any such lease agreement made,
however, may contain a grant to the municipality of successive options to renew such lease
agreement, on the conditions specified therein, for additional terms; but no such additional
term shall be for a period longer than the fiscal year in which such renewal shall be made.
The lease agreement may contain provisions as to the method by which such renewal may be effected.
(b) Payments limited to current revenues of the municipality for current fiscal year. The
obligation on the part of the municipality to pay the rental required to be paid...
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37-11C-4
Section 37-11C-4 Allowance and claim of tax credits; Railroad Rehabilitation Income
Tax Credit Account; written transfer agreements. (a) For tax years beginning after December
31, 2019, there is a credit allowed against the state income tax levied by Section
40-18-2 equal to 50 percent of an eligible taxpayer's qualified railroad rehabilitation expenditures.
The tax credit allowed under this section may not exceed three thousand five hundred
dollars ($3,500) multiplied by the number of miles of railroad track owned or leased within
the state by the eligible taxpayer at the close of the taxable year. (b) There is created
within the Education Trust Fund a separate account named the Railroad Rehabilitation Income
Tax Credit Account. The Commissioner of Revenue shall certify to the state Comptroller the
amount of income tax credits under this section and the state Comptroller shall transfer
into the Railroad Rehabilitation Income Tax Credit Account only the amount from sales tax
revenues...
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