Section 40-18-384 Specific Industrial or Research Enterprises; Amounts and Durations of Incentives; Fees for Amendments to Project Agreements.

This section classifies certain activities and an agricultural center as qualifying enterprises/projects, allows the agricultural center an investment credit for up to 10 years, lets the Governor reduce certain incentive amounts and durations, lets the Department of Commerce charge amendment fees, and allows the credit

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Jurisdiction: United States — Alabama
Instrument: Act or statute
Version: Undated source snapshot
Language: en
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fees incentives investment credit project agreements

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Provisions of Section 40-18-384 Specific Industrial or Research Enterprises; Amounts and Durations of Incentives; Fees for Amendments to Project Agreements.

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Section 40-18-384 Specific Industrial or Research Enterprises; Amounts and Durations of Incentives; Fees for Amendments to Project Agreements.
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AI-assisted research summary: This section classifies certain activities and an agricultural center as qualifying enterprises/projects, allows the agricultural center an investment credit for up to 10 years, lets the Governor reduce certain incentive amounts and durations, lets the Department of Commerce charge amendment fees, and allows the credit to be transferable in the project agreement.

(a) Both of the following shall be considered industrial or research enterprises for purposes of Chapter 9B of this Title 40, approved activities for purposes of Chapter 9G of this Title 40, and qualifying projects for purposes of Article 16 of Chapter 18 of this Title 40: (1) Any trade or business predominately consisting of an activity described in Section 40-18-376.3(c). (2) The agricultural center described in Section 40-18-417(a)(2)b. (b) The agricultural center is allowed the investment credit as provided in Section 40-18-376 for a period not to exceed 10 years. (c) For purposes of Article 16 of Chapter 18 of Title 40, the Governor may decrease the amounts and durations of the jobs act incentives. The Department of Commerce may charge fees for amendments to project agreements entered into under Article 16 of Chapter 18 of Title 40. (d) As to the agricultural center described in Section 40-18-417(a)(2)b., all of the years of the investment credit may be made transferable in the project agreement, using rules similar to those provided in Section 40-18-376(b)(3).

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Section 40-18-384 Specific Industrial or Research Enterprises; Amounts and Durations of Incentives; Fees for Amendments to Project Agreements.

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