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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...
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41-10-45.2
Section 41-10-45.2 Fund created; project obligations. (a) There is created the Accelerate Alabama
Fund, which may consist of monies appropriated or otherwise made available by the Legislature
in any manner, proceeds of project obligations issued by the authority, and monies from any
other source designated for deposit into such fund, but not including monies subject to a
constitutional designation for some other purpose. Unexpended amounts remaining in the fund
at the end of each fiscal year of the state shall not lapse into the State General Fund. Any
investment earnings or interest earned on amounts in the fund and all loan payments of principal
and/or interest shall be deposited to the credit of the fund. (b) In addition to the purposes
for which the authority may issue project obligations, the authority is hereby authorized
to issue project obligations to provide money for the fund. Project obligations shall be issued
as provided in Section 41-10-44.6, subject, however, to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-45.2.htm - 3K - Match Info - Similar pages
16-6D-8
Section 16-6D-8 Tax credits; Failing Schools Income Tax Credit Account. (a) To provide educational
flexibility and state accountability for students in failing schools: (1) For tax years beginning
on and after January 1, 2013, an Alabama income tax credit is made available to the parent
of a student enrolled in or assigned to attend a failing school to help offset the cost of
transferring the student to a nonfailing public school or nonpublic school of the parent's
choice. The income tax credit shall be an amount equal to 80 percent of the average annual
state cost of attendance for a public K-12 student during the applicable tax year or the actual
cost of attending a nonfailing public school or nonpublic school, whichever is less. The actual
cost of attending a nonfailing public school or nonpublic school shall be calculated by adding
together any tuition amounts or mandatory fees charged by the school to the student as a condition
of enrolling or of maintaining enrollment in the...
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16-6D-9
Section 16-6D-9 Tax credit claims; administrative accountability; verification of requirements;
rules and procedures. (a)(1) An individual taxpayer who files a state income tax return and
is not claimed as a dependent of another taxpayer, a taxpayer subject to the corporate income
tax levied by Chapter 18 of Title 40, an Alabama S corporation as defined in Section 40-18-160,
or a Subchapter K entity as defined in Section 40-18-1 may claim a credit for a contribution
made to a scholarship granting organization. If the credit is claimed by an Alabama S corporation
or Subchapter K entity, the credit shall pass through to and may be claimed by any taxpayer
eligible to claim a credit under this subdivision who is a shareholder, partner, or member
thereof, based on the taxpayer's pro rata or distributive share, respectively, of the credit.
(2) The tax credit may be claimed by an individual taxpayer or a married couple filing jointly
in an amount equal to 100 percent of the total...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-6D-9.htm - 24K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11C-4.htm - 5K - Match Info - Similar pages
40-18-374
Section 40-18-374 Claiming of incentives; project agreement; amounts and durations of incentives.
(a) An incentivized company may claim either or both of the jobs act incentives, to the extent
provided in the project agreement. (b) In order for an incentivized company to claim the jobs
act incentives, the Governor and the incentivized company shall execute a project agreement.
The agreement shall contain all of the following: (1) The name of the incentivized company;
(2) The location of the qualifying project; (3) The activity to be conducted at the qualifying
project; (4) The jobs act incentives to be granted and the order in which they shall be claimed;
(5) The capital investment to be made at the qualifying project; (6) The time period for the
capital investment to be made at the qualifying project; (7) The number of eligible employees
at the qualifying project; (8) The anticipated wages to be paid to or for the benefit of eligible
employees during the incentive period for the jobs...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-374.htm - 2K - Match Info - Similar pages
11-99-6
Section 11-99-6 Allocation of positive tax increments; payment to local finance officer; tax
increment fund. (a) Positive tax increments of a tax increment district shall be allocated
and paid over to the public entity which created the district for each year commencing on
the October 1 following the date when the district is created until the earlier of: (1) That
time, after the completion of all public improvements specified in the project plan or amendments
thereto, when the public entity has received aggregate tax increments from the district in
an amount equal to the aggregate of all expenditures previously made or monetary obligations
previously incurred for project costs for the district; or (2) Thirty-five years after the
last expenditure identified in the project plan is made. No expenditure may be provided for
in the project plan to be made more than five years after the district is created, except
in Class 3 municipalities where such expenditures may be made not more than 10...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-99-6.htm - 4K - Match Info - Similar pages
40-18-375
Section 40-18-375 Jobs credit against utility taxes; realization of benefits; regulations.
(a) If provided for in the project agreement and in accordance with the terms therein, the
incentivized company is allowed a jobs credit against utility taxes, in an annual amount equal
to 3 percent of the wages paid to eligible employees during the prior year. The incentive
period shall be 10 years. (b) The project agreement shall provide that one of the following
methods shall be used to realize the benefits of the jobs credit: (1)a. The jobs credit may
be paid to the incentivized company as a refund out of utility taxes during the incentive
period, regardless of the amount of utility taxes actually paid by the incentivized company.
b. For each year of the incentive period for the jobs credit, the incentivized company shall
submit to the Department of Commerce a certification as to the wages paid to eligible employees
during the prior year. Following such examination as it deems necessary, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-375.htm - 2K - Match Info - Similar pages
40-9F-32
Section 40-9F-32 Procedures for rehabilitation of qualified structures; tax credits; review;
audit; fees; report to Legislature. (a) The commission shall develop standards for the approval
of the substantial rehabilitation of qualified structures for which a tax credit is sought.
The standards shall take into account whether the substantial rehabilitation of a qualified
structure is consistent with the historic character of the structure or of the Registered
Historic District in which the property is located. (b) Prior to beginning any substantial
rehabilitation work on a qualified structure, the owner shall submit an application and rehabilitation
plan to the commission and an estimate of the qualified rehabilitation expenditures under
the rehabilitation plan; provided, however, that the owner, at its own risk, may incur qualified
rehabilitation expenditures no earlier than six months prior to the submission of the application
and rehabilitation plan that are limited to architectural,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-9F-32.htm - 10K - Match Info - Similar pages
11-99-8
Section 11-99-8 Financing of project costs. (a) Payment of project costs may be made by any
of the following methods or any combination thereof: (1) Payment from the tax increment fund
of the tax increment district if the purpose of the payment is one provided for in Section
11-99-6 hereof; (2) Payment out of the general funds of the public entity, such payments being
used either directly by the public entity to pay such costs or used by a third party recipient
of such funds to pay such costs if within a Major 21st Century Manufacturing Zone; (3) Payment
out of the proceeds of the sale of warrants, bonds or notes (whether public improvement bonds
or notes, mortgage bonds, notes or certificates, revenue bonds or notes, or otherwise) issued
by the public entity, such payments being used either directly by the public entity to pay
such costs or used by a third party recipient of such funds to pay such costs if within a
Major 21st Century Manufacturing Zone; (4) Payment out of the proceeds...
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