(a) At no time prior to the calendar year ending [ December 31, 2021 [, shall the annualized balance of the outstanding jobs act incentives exceed three hundred fifty million dollars ($350,000,000) [, which amount would increase to three hundred seventy-five million dollars ($375,000,000) for the calendar year ending December 31, 2023, four hundred million dollars ($400,000,000) for the calendar year ending December 31, 2024, four hundred twenty-five million dollars ($425,000,000) for the calendar year ending December 31, 2025, four hundred fifty million dollars ($450,000,000) for the calendar year ending December 31, 2026, and four hundred seventy-five million dollars ($475,000,000) for the calendar year ending December 31, 2027, unless the Legislature enacts legislation to allow additional jobs act incentives. Of the above annualized balance, twenty million dollars ($20,000,000) shall apply to qualifying projects located in targeted or jumpstart counties as described in Section 40-18-376.1.
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Terms Used In Alabama Code 40-18-383
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)[ Jobs act incentives under this article shall not be available for any qualifying project unless at least 80 percent of the [ employees created by the qualifying project are employed full time.
