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45-2-245.20
Section 45-2-245.20 Trust fund established; administration. (a) Any laws or parts of laws to
the contrary notwithstanding, any annual privilege tax levied upon persons engaging in the
business of producing or severing oil or gas or other hydrocarbons from the soil or waters
of Baldwin County measured by the gross value of such oil or gas or other hydrocarbons and
which tax is applicable only in Baldwin County and under which collections were being made
on January 1, 1987, shall be continued and collected only as herein prescribed. (1) All revenues
collected from such local severance taxes, shall, beginning the first day of the month following
May 19, 1989, be paid into the general fund of the county exclusively for transfer and deposit
into the trust fund hereby established until the total sum of fifteen million dollars ($15,000,000)
in severance tax revenues of the type described in this section, excluding any interest income
on amounts deposited therein from such total sum, has been...
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40-20-50
Section 40-20-50 Collection of severance taxes; deposit into fund; distribution of investment
income; trustees; escrow agents; limitations. Any laws or parts of laws to the contrary notwithstanding,
any annual privilege tax levied upon persons engaging in the business of producing or severing
oil or gas or other hydrocarbons from the soil or waters of this state measured by the gross
value of such oil or gas or other hydrocarbons and which tax is applicable only in a particular
county and under which collections were being made on January 1, 1987, or which shall hereafter
be levied pursuant to legislative act, shall be continued and collected only as herein prescribed:
(1) All revenues collected from such local severance taxes shall, beginning the first day
of the month following August 3, 1987, be paid into the general fund of the county exclusively
for transfer and deposit into a trust fund hereby established until the total sum of $15,000,000
in severance tax revenues of the type...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-20-50.htm - 5K - Match Info - Similar pages
40-13-6
Section 40-13-6 Distribution of tax proceeds. (a) In each fiscal year when the funds then on
deposit in the special fund or funds created for retirement of the bonds equal the amount
needed to pay all the principal and interest becoming payable on the bonds within the succeeding
12 months and the funds then on deposit in the reserve fund or funds created for the bonds
equal the maximum principal and interest becoming due on the bonds in any one year, the severance
tax proceeds remaining in the Alabama State Docks Bulk Handling Facility Trust Fund, shall
be distributed as provided herein; provided however, that if at the end of any fiscal year
of the state, beginning with the fiscal year ending September 30, 1987, the Director of the
Alabama State Docks Department shall have notified the Director of Finance in writing, at
least five days prior to the close of the fiscal year, that the revenues to be derived by
the Alabama State Docks Department from the operations of its coal handling...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-13-6.htm - 13K - Match Info - Similar pages
11-65-2
Section 11-65-2 Definitions. (a) The following words and phrases used in this chapter, and
others evidently intended as the equivalent thereof, shall, unless the context clearly indicates
otherwise, have the following respective meanings: (1) ALABAMA-BRED. When this term is used
with reference to a horse, it means a horse which is registered in the registry designated
and administered by a commission in accordance with such rules concerning domicile and registration
requirements as may be established by such commission and which is either (i) foaled from
a mare domiciled in the state during the 10-year period beginning with January 1, 1991, or
(ii) sired by an Alabama stallion and foaled from a mare domiciled in the state at any time
after the expiration of such 10-year period. (2) ALABAMA STALLION. A stallion which is standing
in the state at the time he is bred to the dam of an Alabama-bred horse, which is registered
with a commission, and which is owned or leased by a resident of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-65-2.htm - 17K - Match Info - Similar pages
16-13-231
Section 16-13-231 Purposes and plan of apportionment. (a) In addition to all other appropriations
and apportionments of public school money now provided by law and made available for public
schools there shall be apportioned and paid to local boards of education from the Foundation
Program Fund, the amounts to be determined as hereinafter provided and in accordance with
regulations of the State Board of Education. This Foundation Program Fund shall be used principally:
(1) To aid in providing at least a 180 full instructional day minimum school term, or the
hourly equivalent thereof, except as otherwise provided in paragraph c. of subdivision (1)
of subsection (b); and, (2) To assist in the promotion of educational opportunity for all
children in the public schools. (b) The following requirements and procedures, supplemented
when necessary by regulations of the State Board of Education, shall govern the apportionment
of the fund: (1) REQUIREMENTS FOR PARTICIPATING IN FUND. In order for...
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41-14A-2
Section 41-14A-2 Definitions. As used in this chapter, the following words and terms shall
have the following meanings: (1) AVERAGE MONTHLY BALANCE OF PUBLIC DEPOSITS. The sum of the
average daily balances of public deposits, meaning the net average daily balances of public
deposits determined without any deduction for deposit insurance, for the reported month and
the 11 months preceding that month, divided by 12. (2) BOARD OF DIRECTORS or BOARD. The Board
of Directors of the SAFE Program established under Section 41-14A-6. The board of directors
shall consist of eight members. (3) COLLATERAL-PLEDGING LEVEL or COLLATERAL-PLEDGING REQUIREMENT.
The percentage or percentages of collateral, in relation to one or more levels of public deposits
held, required to be pledged by a qualified public depository as determined in accordance
with the provisions of this chapter or rules or orders of the board adopted pursuant to this
chapter. (4) COVERED PUBLIC ENTITY. The state and its political...
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45-37-123.01
Section 45-37-123.01 Definitions. For the purposes of this part, the following terms shall
have the following meanings: (1) ACT. The act adding this part, to be called the General Retirement
System for Employees of Jefferson County Act. (2) ACTIVE MEMBER. An individual who currently
is employed by the county or other entities set forth in subdivision (20) and is making employee
contributions to the system. (3) ACTUARIAL EQUIVALENT. Effective July 30, 1984, or such other
dates as set forth in Exhibit A, which is maintained in the office of the pension board, a
form of benefit differing in time, period, or manner of payment from a specific benefit provided
under the plan but having the same value when computed using the mortality tables, the interest
rate, and any other assumptions last adopted by the pension board, which assumptions shall
clearly preclude any discretion in the determination of the amount of a member's benefit.
(4) ACTUARIAL GAIN. As defined in Section...
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25-4-51
Section 25-4-51 Rates of contributions, etc., by employers. (a) Contributions. Except as hereinafter
provided and subject to the provisions of Section 25-4-54, every employer shall pay contributions,
or payments in lieu of contributions, equal to the percentages of wages payable or paid as
hereinafter set out, with respect to employment by him. (1) With respect to employment during
calendar years after December 31, 1975, every employer who has been liable to the provisions
of this chapter during a period of time sufficient to have his rate of contribution determined
under the experience rating provisions of Section 25-4-54 shall pay contributions at the rate
prescribed thereby. (2) With respect to employment after December 31, 1975, every employer
who has not been liable to the provisions of this chapter for a sufficient length of time
to have his rate determined under the experience rating provisions of Section 25-4-54 shall
pay contributions at the rate of 2.70 percent of such wages...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-4-51.htm - 33K - Match Info - Similar pages
45-27-246.04
Section 45-27-246.04 Distribution of funds from Escambia County Courthouse and County Jail
Trust Fund. The funds received by Escambia County prior to June 1, 1989, from severance tax
or privilege tax on oil and gas under any general law, including Sections 40-20-1 through
40-20-13, or any local law whatsoever, and deposited in the county treasury designated as
the Escambia County Courthouse and County Jail Trust Fund, shall be distributed as follows:
(1) All the interest from such investment shall be deposited in the county general fund. (2)
Up to five hundred thousand dollars ($500,000) of the principal shall be deposited in the
county general fund. (3) The remaining principal shall be deposited as principal into the
Escambia County Oil and Gas Severance Trust as established in Subpart 2. The earned interest
that is generated by this transfer of principal shall be expended according to the provisions
of Subpart 2. (Act 89-270, p. 424, ยง2.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-27-246.04.htm - 1K - Match Info - Similar pages
45-27-246.30
Section 45-27-246.30 Trust fund. (a) The Legislature recognizes that there has been a certain
windfall to Escambia County paid during the fiscal year 1983-84 and arising under the oil
and gas severance tax levied under provisions of Section 40-20-2, and distributed under Section
40-20-8. The legislative intent of this section is to establish a trust fund, the corpus of
which is to be composed of four million dollars ($4,000,000) from the oil and gas severance
tax paid to Escambia County during the fiscal year of 1983-84 together with 20 percent of
the annual income thereon each year during the existence of this trust beginning with the
fiscal year 1984-85. (b) Subject to any limitation of the Constitution of Alabama of 1901,
or of any general law of this state, the Escambia County Commission shall establish a trust
fund which shall be entitled the Escambia County Oil and Gas Severance Trust and which shall
hereafter in this section be referred to as the trust. The Escambia County...
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