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.
Structure Code of Alabama
Article 2A - Additional Powers of State Industrial Development Authority.
Section 41-10-44.1 - Legislative Intent With Respect to Additional Powers of the Authority.
Section 41-10-44.2 - Additional Definitions.
Section 41-10-44.3 - Additional Powers of Authority.
Section 41-10-44.4 - Determination of Approved Companies.
Section 41-10-44.5 - Legislative Oversight of the Authority.
Section 41-10-44.6 - Project Obligations Generally.
Section 41-10-44.7 - Proceeds From the Sale of Project Obligations; Revenues and Other Funds.
Section 41-10-44.8 - Tax Credits, Job Development Fees and Other Incentives.
Section 41-10-44.9 - Establishment of Tax Increment Funds.
Section 41-10-44.10 - Refunding Obligations.
Section 41-10-44.12 - Requirement to Report to the Legislature.
Section 41-10-44.13 - Exemption From Certain Taxes and Fees.
Section 41-10-44.14 - No Notice, Approval, Public Hearing Required for Issuance of Obligations.