Ala. Admin. Code r. 281-6-2-.06

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

Section 281-6-2-.06 - Award Of Funding To Local Economic Development Organizations

(a) Commerce will review applications for approval. If Commerce approves an application, it will forward the application to the Renewal of Alabama Commission.

(b) Applications are reviewed by the Renewal of Alabama Commission pursuant to procedures adopted by the Renewal of Alabama Commission.

(c) Applications that are approved by the Renewal of Alabama Commission shall be returned to Commerce for entry into a Growing Alabama Funding Agreement. Commerce shall prescribe the form of Growing Alabama Funding Agreement and may amend the same from time to time.

(d) Upon execution and delivery of a Growing Alabama Funding Agreement by all parties thereto, Commerce will provide a copy of the Growing Alabama Funding Agreement to Revenue together with such information as is necessary or convenient for Revenue to administer the online system mandated by the Act.

Ala. Admin. Code r. 281-6-2-.06

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

Author: Department of Commerce

Statutory Authority:Code of Ala. 1975. §§ 40-18-412, 40-18-415(f).