Alabama § 41-9-215 Commitment to Provide Economic Development Funds; Contract Containing Conditions of Project

Alabama Statutes

§ 41-9-215 — Commitment to Provide Economic Development Funds; Contract Containing Conditions of Project

Alabama § 41-9-215

Title 41State Government

Ch. 9Boards and Commissions

Art. 8BState Economic Development Funds Committment; Parties Required to Enter Written Contract Within Specified Time

This text of Alabama § 41-9-215 (Commitment to Provide Economic Development Funds; Contract Containing Conditions of Project) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 41-9-215 (2026).

Text

(a)After May 4, 2011, no commitment made by the state to provide economic development funds as an incentive for a company to build or expand in this state shall be valid unless the state and the company to whom the commitment was made, within five years of the date of the commitment, enter into a mutually acceptable written contract outlining the conditions of the project.

(b)Any commitment made by the state before May 4, 2011, in which the state and the company to whom the commitment was made have not entered into a mutually acceptable written contract outlining the conditions of the project is void after five years from the date of the commitment or one year after May 4, 2011, whichever is later.

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(a) After May 4, 2011, no commitment made by the state to provide economic development funds as an incentive for a company to build or expand in this state shall be valid unless the state and the company to whom the commitment was made, within five years of the date of the commitment, enter into a mutually acceptable written contract outlining the conditions of the project.
(b) Any commitment made by the state before May 4, 2011, in which the state and the company to whom the commitment was made have not entered into a mutually acceptable written contract outlining the conditions of the project is void after five years from the date of the commitment or one year after May 4, 2011, whichever is later.