Ala. Admin. Code r. 460-X-25-.12

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

Section 460-X-25-.12 - [Effective until 12/15/2024] Meetings And Review Cycle

The Executive Director of the Alabama Historical Commission shall by October 30, 2017, contact the President Pro Tempore of the Senate and the Speaker of the House of Representatives for the names of their appointees to the Historic Tax Credit Evaluating Committee.

(1) The Commission shall call the first meeting of the Tax Credit Evaluating Committee before December 31, 2017, and it shall be an organizational meeting to select a chair and vice-chair to serve for 2018, to determine the location of Committee meetings, and to orient Committee members to the Program. In the following years, the selection of officers shall be in the first quarter of the calendar year in which they are to serve. The officers of the Committee shall be a chairman and a vice-chairman. The Commission shall serve as secretary of the Committee. The officers shall be selected by a majority vote of members present. The chair and vice-chair positions shall serve for one-year terms. The House and Senate members are appointed or reappointed annually.

(2) All notices and meetings of the Committee shall be conducted in accordance with the Alabama Open Meetings Act, Chapter 25A, Title 36, Code of Ala. 1975. The Commission will post all required public notices about the date, time, and location of the Committee meetings. A majority of the members of the Committee present shall constitute a quorum. The Committee may meet at any place within the state of Alabama.

(3) The Committee shall meet at least quarterly unless no Qualifying Projects are recommended by the Commission or the $200,000,000 has been reached. The Committee may also meet at the call of the chair or any majority of the membership. The Committee shall perform all duties prescribed by this Act and by Robert's Rules of Order.

(4) Applications will be accepted beginning November 1, 2017. The Review Cycle is as follows:

(a)Quarter 1

Application Period: Applications received by December 31 will be reviewed by the Commission and, if determined to be a Qualifying Project, will be considered in the first quarter Committee meeting. The Commission reserves tax credits as available based on Committee recommendations no later than 30 days after the first quarter Committee meeting.

(b)Quarter 2

Application Period: Applications received by March 31 will be reviewed by the Commission and, if determined to be a Qualifying Project, will be considered in the second quarter Committee meeting. The Commission reserves tax credits as available based on Committee recommendations no later than 30 days after the second quarter Committee meeting.

(c)Quarter 3

Application Period: Applications received by June 30 will be reviewed by the Commission and, if determined to be a Qualifying Project, will be considered in the third quarter Committee meeting. The Commission reserves tax credits as available based on Committee recommendations no later than 30 days after the third quarter Committee meeting.

(d)Quarter 4

Application Period: Applications received by September 30 will be reviewed by the Commission and, if determined to be a Qualifying Project, will be considered in the fourth quarter Committee meeting. The Commission reserves tax credits as available based on Committee recommendations no later than 30 days after the fourth quarter Committee meeting.

Ala. Admin. Code r. 460-X-25-.12

Adopted by Alabama Administrative Monthly Volume XXXV, Issue No. 11, August 31, 2017, eff. 9/24/2017.

Amended by Alabama Administrative Monthly Volume XL, Issue No. 03, December 30, 2021, eff. 2/13/2022.

Authors: Chloe Mercer; Lee Anne Wofford; Clara Nobles

Statutory Authority: Act 2017-380; Act 2021-431.