§ 45-27-246.02 — Distribution of Funds to Escambia County Industrial Development Authority

Alabama § 45-27-246.02

• Jurisdiction: Alabama
• Title 45: Local Laws
• Ch. 27: Escambia County
• Art. 24: Taxation
• Part 7: Tax, Severance
• Subpart 1: Severance Tax

Text

An amount equal to one-tenth of the net funds received by Escambia County pursuant to Sections 40-20-1 through 40-20-13, for the general fund of the county or one hundred thousand dollars ($100,000) of the funds, whichever is the lesser, shall be appropriated by the Escambia County Commission from the county general fund to the Escambia County Industrial Development Authority, created by Article 9. Furthermore, the governing body of Escambia County may deposit directly into an account authorized by the Escambia County Industrial Development Authority on a monthly installment basis. The development authority may contract with any municipality in Escambia County for services it deems appropriate out of the funds allocated by this section. Any monies which are not expended by the authority by September 30 of each fiscal year shall be carried over from year-to-year by the authority and remain available for expenditure by the authority.

Legislative History

(Act 82-744, 2nd Sp. Sess., p. 215, §3; Act 2020-188, §2.)