(a) Upon receipt of funding provided by the tax credit process in Section 40-18-416, this section is repealed following the close of fiscal year 2020) Scope and use of Growing Alabama Credits” class=”unlinked-ref” datatype=”S” sessionyear=”2021″ statecd=”AL” title=”40″>40-18-413, the economic development organization shall proceed with the work that was specified in the application required by Section 40-18-416, this section is repealed following the close of fiscal year 2020) Applications” class=”unlinked-ref” datatype=”S” sessionyear=”2021″ statecd=”AL” title=”40″>40-18-411.
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Terms Used In Alabama Code 40-18-414

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • following: means next after. See Alabama Code 1-1-1
  • year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 1-1-1
(b)

(1) As to a project described in Section 40-18-416, this section is repealed following the close of fiscal year 2020) Applications” class=”unlinked-ref” datatype=”S” sessionyear=”2021″ statecd=”AL” title=”40″>40-18-411(a)(1), the economic development organization shall report to the Department of Commerce upon the completion of the site preparation or public infrastructure work, upon the transfer of the site to an industry or business, and at other times as may be required or requested by the Department of Commerce.
(2) As to a project described in Section 40-18-416, this section is repealed following the close of fiscal year 2020) Applications” class=”unlinked-ref” datatype=”S” sessionyear=”2021″ statecd=”AL” title=”40″>40-18-411(a)(2), the economic development organization shall report to the Department of Commerce upon the completion of the work and at such times as may be required or requested by the Department of Commerce.
(c) The Department of Commerce shall make an annual report on the use of funds pursuant to this article to the Chair of the House Ways and Means Education Committee, the Chair of the Senate Finance and Taxation Education Committee, and the members of the Joint Legislative Advisory Committee on Economic Incentives established by Section 40-18-379, at the times, and in the manner, requested by the committee. Beginning with the report for fiscal year 2019, the report shall include a study of the economic impacts from the expenditures made in prior years.
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