Ala. Admin. Code r. 281-6-1-.07

Current through Register Vol. 43, No. 1, October 31, 2024

Section 281-6-1-.07 - Port Credits Awarded By Project Agreement

(a) Section 40-18-403(e) of the Code provides that port credits may be allocated by the Governor and awarded by the Commission pursuant to a project agreement between the State and a port facility user. Award of port credits pursuant to a project agreement is an alternative method of seeking port credits for manufacturing or distribution projects investing at least $20,000,000 at a single site and creating 75 net new jobs in Alabama. To the extent this section conflicts with other sections in this chapter, the provisions of this section shall control the process for obtaining port credits by project agreement.

(b) A port facility user seeking port credits for a project by project agreement may notify the Department of Commerce of its project utilizing the process outlined in Section 41-9-202.1 of the Code and include in their notification a request for an allocation of port credits; however, this notification process is not a mandatory prerequisite to obtaining port credits by project agreement.

(c) Port facility users seeking an award of port credits by project agreement shall file an application with the Commission on a form prescribed by the Commission for project agreement port credits prior to any Commission meeting but not in conjunction with a notification under subsection (b) of this Section.

(d) The Commission shall approve the actual port credit per unit of cargo volume applicable to each project agreement, subject to execution and delivery of a project agreement. After reviewing each application, the Commission shall impose application fees for each application for port credits by project agreements on a case-by-case basis, and shall specify the applicable fee in its award of port credits to a port facility user. Approval of port credits may be made conditional on payment of the application fee.

(e) Notwithstanding Commission approval, a port facility user shall only become eligible to earn port credits by project agreement upon execution and delivery of a project agreement between the State and the port facility user.

(f) A port facility user which is awarded port credits by project agreement shall not be entitled to claim more port credits than are approved by the Commission for that port facility user.

Ala. Admin. Code r. 281-6-1-.07

Adopted by Alabama Administrative Monthly Volume XXXV, Issue No. 05, February 28, 2017, eff. 3/19/2017.

Amended by Alabama Administrative Monthly Volume XXXV, Issue No. 10, July 31, 2017, eff. 9/1/2017.

Author: Department of Commerce

Statutory Authority:Code of Ala. 1975. §§ 40-18-401, 40-18-403.