Ala. Admin. Code r. 305-5-4-.02

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

Section 305-5-4-.02 - Definitions

(1) "ACT" means Act 90-650 as approved by the General Session of the Legislature of the State of Alabama, and amendments thereto.

(2) "Committee" means the Regional Revolving Loan Policy Committee. The Committee shall consist of the Director of the Alabama Department of Economic and Community Affairs, the Director of the Alabama Development Office, the Chairperson of the Senate Economic Affairs Committee, the Chairperson of the House Commerce and Industrial Development Committee, two (2) Senators appointed by the Lieutenant Governor, two (2) House members appointed by the Speaker of the House and four (4) members appointed by the Governor. The Directors of each Regional Planning and Development Commission are ex officio, nonvoting members.

(3) "Department" means the Department of Economic and Community Affairs.

(4) "Regional Planning and Development Commission" means one of several multicounty authorities established pursuant to §§ 11-85-50 through 11-85-73 of the Code of Alabama.

(5) "Regional RLF" means a new or existing revolving loan fund operated by a Regional Planning and Development Commission or organized by a Regional Planning and Development Commission to serve as a source of loan financing within the Region's jurisdiction.

(6) "Base funds" means any monies not appropriated, pursuant to the purpose of this ACT, that are used to match the state funds, as defined in (7) below. These "base funds" may be federal, local, private, foundation grants or monies derived from any legal source.

(7) "State Funds" means state funding appropriated by the Legislature for the purposes of this ACT to establish the necessary monies to start up and maintain an economic revolving loan fund, referred to in (5) above as "Regional RLF." This term includes all funds appropriated pursuant to the purposes of this ACT and all recaptured funds, unless specified otherwise.

Authors: David S. Barley, Jr.; Dr. Don C. Hines.

Ala. Admin. Code r. 305-5-4-.02

Filed November 19, 1990; effective December 24, 1990.

Statutory Authority: Act 90-650, Legislature of the State of Alabama.