Alabama Code 41-10-27.2. Appropriation of funds for payment of industrial development site grants
Current as of: 2024 | Check for updates
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Terms Used In Alabama Code 41-10-27.2
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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.
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
Beginning in the fiscal year ending September 30, 2024, the Legislature shall annually appropriate an amount up to $2,000,000 from the Capital Improvement Trust Fund to the State Industrial Development Authority for the purpose of paying industrial development site grants, site assessment grants, or site development grants. The bond commission established by Section 210.04 of the Constitution of Alabama of 2022, shall consult with the State Industrial Development Authority and recommend to the Legislature the actual amount of the annual appropriation.