LegalFix
Sign In

Section 40-18-410 - (Per Section 40-18-416, this section is repealed following the close of fiscal year 2020) Definitions.

AL Code § 40-18-410 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

For the purposes of this article, the following words and phrases shall have the following meanings:

(1) GROWING ALABAMA CREDIT. The credit provided for in Section 40-18-413(a).

(2) INDUSTRY OR BUSINESS. An entity which would conduct at a site an activity that is primarily described in Section 40-18-372(1).

(3) LOCAL ECONOMIC DEVELOPMENT ORGANIZATION. Organizations which are determined by the Department of Commerce to meet both of the following criteria:

a. The organization is an Alabama entity not operating for a profit, including, but not limited to, a municipality or county, an industrial board or authority, a chamber of commerce, or some other foundation or Alabama nonprofit corporation charged with improving a community or region of the state.

b. The organization has a record of supporting or otherwise participating in economic development activities in some part of Alabama.

(4) RENEWAL OF ALABAMA COMMISSION. The Renewal of Alabama Commission created by Section 40-18-402.

(5) SITE. Real property owned by a local economic development organization and intended for use by an industry or business.

No previous sections
Next Section
Section 40-18-411 - (Per Section 40-18-416, this section is repealed following the close of fiscal year 2020) Applications.