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41-10-44.4
Section 41-10-44.4 Determination of approved companies. The authority shall promulgate criteria
for the determination and selection of approved companies and the approval of projects proposed
by such companies. Such criteria shall give greatest weight to the creditworthiness of the
project sponsors, the number, type and quality of new jobs to be provided by the project to
residents of the state, and the economic viability of the proposed project. The authority
may include in its criteria requirements relating to the capital costs of, and projected employment
to be produced by, projects eligible for financing under this article and requirements relating
to the employment of previously unemployed or underemployed persons. The authority shall require
as a condition for designation as an approved company either (i) that the average hourly wage
for full-time hourly wage paid employees at the project be at least eight dollars ($8) per
hour, or (ii) that the average total compensation...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.4.htm - 2K - Match Info - Similar pages
41-10-547
Section 41-10-547 Bonds of the authority. (a) The authority is authorized from time to time
to sell and issue its bonds for the purpose of financing project costs pertaining to one or
more projects or for the purpose of providing funds to pay training facility management fees,
or any combination of the foregoing including, without limitation, in the case of authority
obligations issued for the purpose of providing funds to pay training facility management
fees, costs, expenses, and other items of the type described in paragraphs g., h., i., and
j. of the definition of project costs in Section 41-10-541 or to enter into guaranty agreements
wherein the authority guarantees payment, in whole or in part, of debt service referable to
obligations issued by development agencies for the purpose of financing project costs pertaining
to one or more projects; provided, however, that the principal amount of authority obligations
shall not exceed three hundred million dollars ($300,000,000). For...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-547.htm - 9K - Match Info - Similar pages
45-17-90.53
Section 45-17-90.53 Duration of tax; referendum. (a) Subject to subsection (b), the taxes herein
authorized shall continue so long as securities secured by a pledge of such taxes shall remain
outstanding. Such taxes shall expire and the Local Public Corporation shall be abolished when
the original securities, including refunding securities hereafter issued to refund the original
securities, for the Shoals Economic Development Project shall have been paid in full. Securities,
for which an irrevocable trust fund consisting of cash or direct general obligations of the
United States of America, or both, shall be established for retirement of all of the principal
of or interest on any outstanding security, shall be deemed paid in full for the purposes
of this subpart. (b) Notwithstanding subsection (a), on the date when the original securities
for the Shoals Economic Development Project shall have been paid in full, the taxes herein
authorized and the Local Public Corporation shall continue...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-17-90.53.htm - 2K - Match Info - Similar pages
11-50A-7
Section 11-50A-7 Tax exemptions; payments in lieu of taxes. All bonds, bond anticipation notes,
and notes issued by the authority, the interest thereon, and the income therefrom shall be
forever exempt from all taxation in the state. All income of the authority, all obligations,
lease agreements, and mortgages of the authority, all conveyances by or to the authority,
and all lien notices or other filings with respect to the property of the authority and the
transfer thereof shall be forever exempt from any and all taxation in the state. The purchase,
sale, or use of property by the authority shall be exempt from all sales, use, and license
taxes levied by the state and all political subdivisions of the state. All property of the
authority shall be exempt from ad valorem property taxation. Nevertheless, the authority,
or any agent of the authority designated for the purpose of constructing, maintaining, or
operating any project of the authority, shall pay to any validly constituted...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-7.htm - 3K - 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
41-10-44.5
Section 41-10-44.5 Legislative oversight of the authority. The criteria promulgated by the
authority for the selection of approved companies shall be subject to prior approval by the
Legislative Council. The Legislative Council shall approve or disapprove the general criteria
proposed by the authority within 30 days after the submission of said criteria to the Legislative
Council. The authority shall report quarterly to the Legislative Council on each project approved
pursuant to such criteria, the amount of the financing provided to each approved company,
the projected value of the tax incentives granted to each approved company and any other specific
information requested by the Legislative Council. (Acts 1993, 1st Ex. Sess., No. 93-851, p.
79, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.5.htm - 1K - Match Info - Similar pages
41-29-503
Section 41-29-503 Authorization to make grants of money. (a) The authority is hereby authorized
to make grants of money derived from the sale of its bonds, to grantees for use by the grantees
for any one or more of the following purposes: (1) The making of surveys to determine the
location of suitable project sites in the locality of the grantee. (2) The making of surveys
to determine the availability of labor in the locality of the grantee and to classify such
labor in terms of skills and educational level. (3) The preparation of project sites. (4)
Any combination of any of the foregoing which the grantees consider appropriate and necessary
for the promotion of industrial development in their respective localities. (b) Provided,
however, that 20 percent of the grant funds shall be expended specifically in rural areas
of the state and/or areas with high unemployment and low personal income levels. The Director
of the State Industrial Development Authority shall report annually to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-29-503.htm - 4K - Match Info - Similar pages
11-92A-23
Section 11-92A-23 Special reserve funds and applications for appropriations. (a) In addition
to all other powers at any time conferred upon an authority by law, an authority may, in connection
with the issuance of any bonds hereunder, create and establish one or more special debt service
reserve funds (a "debt service reserve fund"), and may pay or cause to be paid into
each debt service reserve fund (i) proceeds from bonds issued pursuant hereto to the extent
provided by the authority authorizing the issuance thereof; (ii) any moneys appropriated and
made available by the Legislature for the purpose of such fund; and (iii) any other moneys
that may be made available to the authority from any other source for the purpose of such
fund. All moneys held in a debt service reserve fund shall be used solely for the payment
of the principal of, premium, if any, and interest on bonds secured, in whole or in part,
by that fund when and as the same become due and payable as provided in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-23.htm - 7K - Match Info - Similar pages
22-29-20
Section 22-29-20 Grants to local public bodies - Plan or program. The plan or program for funding
the grant by the authority to a local public body for a project may be any one or more of
the following, as shall be approved by the authority: (1) An appropriation by the state. (2)
A grant by a corporation, foundation, fund or agency, public or private, to the state for
the purpose of abating water pollution or assisting local public bodies with their projects;
provided, that the state shall not receive any grant from a local public body which has received
or is to receive a grant for its project from the state. (3) The undertaking by the local
public body to levy, collect and pay over to the authority and to continue to levy, collect
and pay over to the authority sums sufficient to pay bond service charges with respect to
the bonds of the authority issued to fund a grant for such project the proceeds of any one
or more of the following: a. Any sewer or waste disposal service fee or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-29-20.htm - 2K - Match Info - Similar pages
23-1-301
Section 23-1-301 Definitions. When used in this article, the following words and phrases shall
have the following respective meanings unless the context clearly indicates otherwise: (1)
AUTHORITY. The Alabama Federal Aid Highway Finance Authority, a public corporation and instrumentality
of the state authorized to be organized under the provisions of this article. (2) BOARD OF
DIRECTORS. The board of directors of the authority. (3) BONDS. The bonds, including refunding
bonds issued to refund outstanding obligations, that in this article are authorized to be
sold and issued by the authority. (4) CORPORATION. The authority. (5) HIGHWAY GASOLINE TAX.
The excise tax levied under subdivision (1) of subsection (a) of Section 40-17-325, with the
exception of those portions of the tax levied on aviation fuel and marine gasoline. (6) LEGISLATURE.
The Legislature of Alabama. (7) NET GASOLINE TAX PROCEEDS. The entire proceeds from the highway
gasoline tax less the cost of collection and less any...
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